Ericsson hopes to finally soon close the $1.13-billion acquisition of Nortel’s CDMA wireless business and its LTE R&D unit. “We don’t expect to see any hiccups. I think it will be closed very soon,” chief technology office Hakan Eriksson told Reuters.
The deal’s closing had been delayed – and was not expected to be finalized until the end of November – mostly due to regulatory issues.
Reuters reported that the U.S. Department of Justice is still reviewing the deal, which willl increase Ericsson’s market share in wireless network equipment in North America to about 50%. The Canadian government took a pass on reviewing the deal despite opposition from Research in Motion, and hearings in Ottawa.
“willl increase Ericsson’s market share in wireless network equipment in North America to about 50%.” but for how long?
Suckers… a desperate gamble
CDMA dying, and on the way out.
Their licensed LTE (4G) with such a short development time after dumping UMTS (3G) to ALcatel for $300M… selling the leapfrogging 3G to 4G notion?
$1.13B rip off by company lacking credibility, even short changed RIM by folding to thwart past negotiations that were ready to be a done deal.
They sell business units better than they were able to sell product.
ntpurgatory
E/// will do just fine. Essentially they'll be the radio worldwide for future cellular networks while Cisco (read that as Starent Networks) will be be packet core of those cellular networks. An oligopoly is born. Plenty of playgrounds for the iPhone and other wonderful handsets coming out in the future. It's less about Nortel now – it's more about the future.
http://www.titidirectonline.co.uk/mobile-phones dual sim mobile phones
Ericsson Expects to Close CDMA Deal Soon
Ericsson hopes to finally soon close the $1.13-billion acquisition of Nortel’s CDMA wireless business and its LTE R&D unit. “We don’t expect to see any hiccups. I think it will be closed very soon,” chief technology office Hakan Eriksson told Reuters.
The deal’s closing had been delayed – and was not expected to be finalized until the end of November – mostly due to regulatory issues.
Reuters reported that the U.S. Department of Justice is still reviewing the deal, which willl increase Ericsson’s market share in wireless network equipment in North America to about 50%. The Canadian government took a pass on reviewing the deal despite opposition from Research in Motion, and hearings in Ottawa.