Nokia Siemens Gets FTC Approval

By Mark Evans | Published: July 8, 2009

Nokia Siemens passed over a hurdle in its bid to buy Nortel’s CDMA wireless business and its LTE R&D unit after the Federal Trade Commission granted its approval as part of an approved list of mergers that involved assessing anti-trust considerations.

If rival bids are going to emerge, they have to happen by July 21 as an auction is being held on July 24.

It will be interesting to see what investment firm Matlin Patterson does over the next two weeks after expressing an interest in buying Nortel outright.


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  • protosphere

    We'll learn if they were bluffing to raise the price.

    With 9 billion on the books, why would these bag holders need other people's money to gamble with anyways. Initially sounding like there was genuine concern strikes me as misleading now.

    Sold to the highest bidder, NSN for 650 with almost half in EDC Welfare, lovely. Anything than let them wreak more disappointment at least. =)

  • tryn2makealivin
  • NortelTragedy

    Notice how there are no females on the ELT?

    http://www.nortel.com/corporate/exec/

  • Asset_Number_XXX

    They set the bar too high for us.

  • ERworker

    Z's requirements are unconditional, unquestioning loyalty to himself and his so-called “plans”. How many women are willing to submit like that any more? ;>)

  • Asset_Number_XXX

    We could learn a thing or two from Joel.

  • Asset_Number_XXX

    Someone please write a song! A bit like this – http://www.youtube.com/watch?v=5YGc4zOqozo&feat…

  • nortelex

    I also heard the LTE core group is now Hitachi's.

    Anybody knows about this? How much did they pay for it? Did Hitachi pick up all the employees?

  • tiredofitall

    They can't get any girls to hang out with them….for some reason???

  • yes4aapl

    I posted that same in other tread.
    Yes, song as the protest.
    United we fall? ?
    I am just sure United breaks guitars.

  • Wapuka1

    Nortel employees had better hope that Nokia wins out. MP is simply interested in carving out as much 'meat' as they can from the Nortel carcass. If MP has control, they will continue to lay off and downsize, and sell off pieces to optimize its ROI. And of course, they will assume control without taking on any severance or pension obligations – leaving those obligations for the carved out husk that was Nortel. Furthermore, there would not be an MP guarantee to maintain Canadian jobs or current pay levels and benefits.

    Nokia Siemens and MP have very different objectives – and MP's have nothing to do with doing anything beneficial for Nortel employees, severed former employees, and pesioners.

  • scalppeeler

    What you said doesn't make alot of sense.
    Let's assume MP are successful. Let's assume the BOD, Mike, the creditors and the court agree to let MP take over.
    Let's assume MP raise the cash they need to make this happen by the deadline. Let's assume MP buy it all.
    So if MP are successful it is likely the price they pay will be somewhere between 2 and 4 billion for the whole thing. Let's assume that for the sake of argument.
    With the state Nortel is is now if MP then decided to carve up, or hack up to get as much meat as they can from the carcass, they would in essence be shooting themselves in the head, making a bad situation worse, depreciating the value and ROI even more so than the current way it is being done.
    Why would they spend billions, only to have something much worse at the end of the day after hacking it up as you say.
    .

  • less

    OK that should make NT flush again for, what, 12-18 weeks, but
    who is gonna buy into NT with MP at the helm?

  • ChaiTea

    An alternative thought on what will happen to Nortel assets if MP wins.

    >>>If MatlinPatterson is successful in its endeavor I do not think that they would keep Nortel's Enterprise Solution (ES) business unit as part of the reorganized company, but sell it off to prospective bidders, such as Avaya and Siemens Enterprise Communications, for about $500 million to recoup some of its upfront investment. This is an extreme situation where the dying telecommunications supplier’s individual businesses are worth far more than the whole organization loaded with debt.

    http://www.nojitter.com/blog/archives/2009/07/p…

  • scalppeeler

    What you said doesn't make alot of sense.
    Let's assume MP are successful. Let's assume the BOD, Mike, the creditors and the court agree to let MP take over.
    Let's assume MP raise the cash they need to make this happen by the deadline. Let's assume MP buy it all.
    So if MP are successful it is likely the price they pay will be somewhere between 2 and 4 billion for the whole thing. Let's assume that for the sake of argument.
    With the state Nortel is is now if MP then decided to carve up, or hack up to get as much meat as they can from the carcass, they would in essence be shooting themselves in the head, making a bad situation worse, depreciating the value and ROI even more so than the current way it is being done.
    Why would they spend billions, only to have something much worse at the end of the day after hacking it up as you say.
    .

  • less

    OK that should make NT flush again for, what, 12-18 weeks, but
    who is gonna buy into NT with MP at the helm?

  • ChaiTea

    An alternative thought on what will happen to Nortel assets if MP wins.

    >>>If MatlinPatterson is successful in its endeavor I do not think that they would keep Nortel's Enterprise Solution (ES) business unit as part of the reorganized company, but sell it off to prospective bidders, such as Avaya and Siemens Enterprise Communications, for about $500 million to recoup some of its upfront investment. This is an extreme situation where the dying telecommunications supplier’s individual businesses are worth far more than the whole organization loaded with debt.

    http://www.nojitter.com/blog/archives/2009/07/p…

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