July 27, 2009 | Wall Street Journal - Gustav Sandstrom : STOCKHOLM (Dow Jones)--L.M. Ericsson Telephone Co.'s (ERIC) acquisition of part of Nortel Network Corp.'s (NRTLQ) assets will give the Swedish equipment vendor a strong position on the fast-growing North American telecommunications market, Chief Financial Officer Hans Vestberg told Dow Jones Newswires Monday.

Ericsson late Friday agreed to acquire Toronto-based Nortel's CDMA and LTE assets for $1.13 billion, beating a previous $650 million bid from rival Nokia Siemens Networks (NOK, SI).

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