diff --git a/lisp/international/mule-util.el b/lisp/international/mule-util.el
index 660ac58e02..a2bd5802cc 100644
--- a/lisp/international/mule-util.el
+++ b/lisp/international/mule-util.el
@@ -44,10 +44,16 @@ store-substring
 	(setq i (1+ i)))))
   string)
 
-(defvar truncate-string-ellipsis "..."  ;"…"
+(defvar truncate-string-ellipsis nil
   "String to use to indicate truncation.
 Serves as default value of ELLIPSIS argument to `truncate-string-to-width'.")
 
+(defun truncate-string-ellipsis ()
+  (cond
+   (truncate-string-ellipsis)
+   ((char-displayable-p ?…) "…")
+   ("...")))
+
 ;;;###autoload
 (defun truncate-string-to-width (str end-column
 				     &optional start-column padding ellipsis
@@ -81,7 +87,7 @@ truncate-string-to-width
   (or start-column
       (setq start-column 0))
   (when (and ellipsis (not (stringp ellipsis)))
-    (setq ellipsis truncate-string-ellipsis))
+    (setq ellipsis (truncate-string-ellipsis)))
   (let ((str-len (length str))
 	(str-width (string-width str))
 	(ellipsis-width (if ellipsis (string-width ellipsis) 0))