Welcome, Guest
  Nortel Buzzboard Categories
  About Nortel Buzzboard



 Blog Roll
Nortel Buzzboard
< Previous | Next >

Nokia Siemens Networks bids to purchase Nortel CDMA and LTE assets
By Bo Gowan, Jun 19, 2009, 08:25 PM EDT


Nortel has just issued the following press release announcing that we have entered into a 'Stalking Horse' agreement with Nokia Siemens Networks to sell our CDMA and LTE assets for $650 million.

 

Nortel to Sell CDMA Business and LTE Assets; Company Advancing in its Discussions with External Parties to Sell Other Businesses

 

This is obviously a major piece of news, so we'll have more details and coverage of this through the weekend and into next week.


Tags: nortel-news, corporate, restructuring
Bookmark:         

< Previous | Next >



Comments:

Click to view dragonhawk's profile 		     

"Major piece of news" is understatement. Also in the press release is that Nortel doesn't expect creditors to receive any value, and that Nortel is looking to sell its remaining business units. In other words, Nortel is throwing in the towel. They don't expect to survive as an independent business entity.

 

It's a sad day in telecom history.

 

Jun 20, 2009 12:03 AM by dragonhawk


Click to view tvalsted's profile 		     

It will be a happy day when the entire Nortel "management" will be prosecuted for their wrongdoings and subsequently imprisoned and deprived of the assets they stole when lieing to the entire investment community!

Jun 20, 2009 10:12 AM by tvalsted


Leave a Comment

Log In to have full access and participate in our Nortel Community. Register now if you don't have an account


Actions
  Recent Comments