• Categories

  • Seeking Alpha Certified
  • All About Nortel at Blogged

    • « Nortel Shares Hit New Low | Main | Nortel Unveils DIY Videos »

    Nortel Sells Sasken Statek

    By Mark Evans | August 27, 2008

    Three years after buying a stake in India’s Sasken Technologies, Nortel has reportedly exited by selling the 9.3% it had left in the company, which develops software for 3G wireless and broadband DSL technologies.

    The stake in Sasken was the brain-child of ex-Nortel CEO Bill Owens, who also committed Nortel to a money-losing contact BSNL.

    Technorati Tags: ,

    [Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

    Topics: M&A |

    Viewing 1 Comment

      • ^
      • v
      "In 2005, Nortel had invested $10 million in Sasken for a 11.31 percent stake in Sasken's fully diluted equity, the report said."

      A lawsuit was filed in 2005:

      "Zafirovski will also repay Motorola US $11.5 million, which is part of his separation payment from Motorola, and Nortel has agreed to fully reimburse Zafirovski for this repayment."

      New Age math proves conclusivley that Mike only cost Nortel $1.5 mio.
     
    close Reblog this comment
    Powered by Disqus · Learn more
    blog comments powered by Disqus