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ADRs End Lower; Telecom Italia, Ericsson Among Companies Actively Trading

11/22/2021 | 06:22pm EST

By Kimberly Chin

International stocks trading in New York closed lower Monday.

The S&P/BNY Mellon index of American depositary receipts fell 0.8% to 161.28. The European index tumbled 0.7% to 143.31. The Asian index declined 1% to 218.08 and the emerging-markets index fell 1% to 357.44.

However, the Latin American index increased 1.2% to 171.84.

Telecom Italia SpA's ADRs jumped 30% on Monday after investment firm KKR & Co. expressed interest in taking the telecommunications company private through an offer valuing it at roughly 10.79 billion euros ($12.17 billion). The Italian company said late Sunday that it had received a friendly and nonbinding indication of interest from KKR, paving the way for a possible buyout offer.

ADRs of Ericsson AB tumbled 7.1% after the Swedish telecom-equipment maker agreed to buy cloud-communications provider Vonage Holdings Corp. for $6.2 billion, a move that will help the company expand its wireless enterprise business and broaden its global offerings, it said Monday.

E.ON SE's ADRs slipped 1% on Monday after the German energy company unveiled new earnings and growth targets for its core business as well as extended its current dividend policy until 2026.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

11-22-21 1821ET

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