Nortel sells mobile network to Ericsson and Kapsch

Apr 02, 2010
Canada's Nortel Networks announced it has completed the 103 million dollar sale of its GSM-GSMR wireless business to Sweden's Ericsson and Austria's Kapsch.

Canada's Nortel Networks on Thursday announced it has completed the 103 million dollar sale of its GSM-GSMR wireless business to Sweden's Ericsson and Austria's Kapsch.

Announced on November 25, the 103 million dollar sale awaits confirmation by US, Canadian and French courts.

" has purchased assets relating to the North American GSM business and Kapsch has purchased assets relating to the EMEA and Taiwan GSM businesses. Kapsch has also acquired the global assets of the GSM-R business," Nortel said in a statement.

The deal calls for transferring 670 Nortel jobs to its buyers.

Placed under in January 2009, Nortel is currently under divestment proceedings.

Explore further: Alibaba surges in Wall Street debut (Update)

add to favorites email to friend print save as pdf

Related Stories

Courts OK $1.13B sale of Nortel assets to Ericsson

Jul 28, 2009

(AP) -- U.S. and Canadian courts have approved Swedish wireless company LM Ericsson's $1.13 billion bid to buy next-generation wireless technology and other assets from insolvent telecom equipment maker Nortel Networks Corp.

Nortel strikes deal to sell business unit to Avaya

Jul 20, 2009

Canadian telecom equipment maker Nortel said Monday it reached a deal to sell its enterprise solutions business to US-based Avaya for 475 million dollars pending approval of a bankruptcy court.

Ciena bids $521M for Nortel business units

Oct 07, 2009

(AP) -- Ciena Corp. is offering cash and stock worth $521 million to acquire some of Nortel's most-prized remaining business units as the fallen telecommunications company continues to liquidate.

Nortel to sell itself off in pieces

Jun 20, 2009

(AP) -- Nortel Networks, once a technology giant, has decided to sell itself off in pieces rather than attempt to emerge from bankruptcy as a restructured company.

London 2012 replaces sponsor Nortel with Cisco

Jul 10, 2009

(AP) -- London Olympic officials on Friday replaced bankrupt Canadian technology sponsor Nortel Networks with Cisco for the 2012 Games, a move that will cost organizers $19.4 million in revenue.

Recommended for you

Alibaba makes Wall Street debut

Sep 19, 2014

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

Sep 19, 2014

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

Sep 19, 2014

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0