Ericsson still offers "significant potential" despite its recent struggles, but must start to deliver on its restructuring strategy, activist investment company Cevian Capital insisted after acquiring a 5.6 per cent stake in the Swedish vendor. According to Financial Times, the investment company spent $1 billion on the stake, and is now Ericsson's second largest shareholder by capital, and the third biggest by votes. Two Swedish companies, Investor and Industrivarden, have dominated Ericsson's ownership in the past. The companies held 21.77 per cent and 15.15 per cent of Ericsson's voting rights at end-2016. Cevian Capital's move comes during a turbulent time for Ericsson. Its struggles are well known, as it faces intensifying competition from major network vendor rivals including Huawei and Nokia.