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Nokia Siemens' Acquisition Of Nortel's LTE Unit Contested
Posted on 29. Jun, 2009 by LteWorld
in News, LTE
InformationWeek, June 29, 2009 : Nokia Siemens Networks' proposed purchase of Nortel Networks' CDMA and LTE assets has run into an unexpected hurdle in the form of a group of its creditors and suppliers objecting to the deal.
Meanwhile in a Delaware courtroom Monday, Nortel chief strategy officer George Riedel sought to convince a judge to approve the proposed sale for $650 million. Arguing that Nortel's technology is superior, but its financial problems drove the company into bankruptcy, Riedel said, "Unfortunately for us, we will win the technology prize, but not the commercial business."
