
According to the Ottawa Citizen, ex-Nortel CEO Bill Owens is part of an investment group looking to buy a majority stake in Huawei’s fast-growing wireless handset business.
AEA Investors is apparently competing against Silver Lake, Bain Capital, KKR and Goldman Sachs to do a deal with Huawei, which is looking for a way to gain a foothold in the U.S. so it can overcome political opposition from Congress.
While Owens has the freedom to play in the telecom market, he’s still on the Nortel payroll. As part of his “resignation” from Nortel in 2005, Nortel agreed to pay Owens a $2-million lump sum. He also started to receive a pension that started with a $703,913 payment in June 2006, and now includes monthly payments of S$99,073 through November 2010.
As well, Nortel agreed to accelerate the vesting for all of Owens’ 2.9 million stock options.
For more on the battle to invest in Huawei, check out this Reuters story.
Technorati Tags: bill owens, huawei, Nortel
Bill Owens: Telecom Wheeler and Dealer
According to the Ottawa Citizen, ex-Nortel CEO Bill Owens is part of an investment group looking to buy a majority stake in Huawei’s fast-growing wireless handset business.
AEA Investors is apparently competing against Silver Lake, Bain Capital, KKR and Goldman Sachs to do a deal with Huawei, which is looking for a way to gain a foothold in the U.S. so it can overcome political opposition from Congress.
While Owens has the freedom to play in the telecom market, he’s still on the Nortel payroll. As part of his “resignation” from Nortel in 2005, Nortel agreed to pay Owens a $2-million lump sum. He also started to receive a pension that started with a $703,913 payment in June 2006, and now includes monthly payments of S$99,073 through November 2010.
As well, Nortel agreed to accelerate the vesting for all of Owens’ 2.9 million stock options.
For more on the battle to invest in Huawei, check out this Reuters story.
Technorati Tags: bill owens, huawei, Nortel