Ericsson Reportedly Buys LG Stake

By Mark Evans | Published: March 18, 2010

Ericsson is reportedly buying Nortel’s 50% + 1 stake in the Nortel-LG joint venture – a move that, if accurate, meant that LG didn’t exercise its right of first refusal. The deal was reported by the Seoul Economic Daily’s Web site today.

Whether the deal has been consummated is unclear as LG said nothing has been decided about Nortel’s stake in the joint venture. “No schedule or partner has been decided for the moment,” LG spokesman Kim Gyeong told Bloomberg.

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  • bankrupt_bob

    Can't be true, tomorrow's not Friday 13th.

  • felixmk

    National Post has a story on the disgusting bonuses to disgusting Nortel execs.

  • bankrupt_bob

    <<Nortel CVAS to Show Powerful Hosted IP Communications Solution at VoiceCon 2010>>

    http://finance.yahoo.com/news/Nortel-CVAS-to-Sh…

    <<con4 definition

    <<con (kän)

    <<adjective
    <<Slang confidence a con man

    <<transitive verb conned, conning con′·ning

    <<1. to swindle (a victim) by first gaining the person's confidence
    <<2. to trick or fool, esp. by glib persuasion

    <<noun
    <<Slang the act or an instance of conning; swindle; trick>>

    http://www.yourdictionary.com/con

  • bankrupt_bob

    Couldn't find the story about nortel, but how about this one?

    <<Canadian Miss Universe hopeful from Yemen plans to cover up>>

    http://www.nationalpost.com/news/story.html?id=…

    ;>)

  • felixmk

    Nice camel, the two humps are impressive. The story link is:

    http://www.nationalpost.com/story.html?id=2694636

  • protosphere

    Sure…like hyper-con-activity =)

  • protosphere

    I guess that leaves the much fewer patents (of the many) that are still worth anything (while they rapidly depreciate like all their other business units) before Nortel is all gone… thankfully gone

    $ 1.3M Director's Fees
    $ 2.19M Hackney
    $ 2.41M Rowe
    $ 1.19M Zafirovski
    $ 1.33M Binning
    $ 1.1M Flanagan
    $ 1.5M Riedel
    $ 1.19M Morin
    etc., etc., etc., etc., etc., etc., etc., etc., etc., etc., etc., etc.,

    Employees no severances and ultimatumed pensions

    Owners shareholders zero as money secured to big business creditors who allowed them to pay themselves longer…

    No folding lies to fold, restructuring lies to liquidate, and now almost all gone with no more inquiries and so few fall guys for Canada's largest fraud remaining as board member's law firm defends past CEO for fraud and latest CEO and CFO get sued for misleading tax credits on books they sought to clean for so long… etc., endless tyranny and swindlers… thankfully gone…

  • less

    the top seven executives got $14.2-million in cash

    To think as little as $5,000 could keep ordinary folk like us off the streets for 2-3 months, and not one of them exec would ever miss it from their – portfolios.

  • bankrupt_bob

    I am thanking your belly, belly much!

  • MikeZ_ElPresidente

    WTF

    Drinking the “Cool-Aid”
    For so many years we have been asked to drink the Cool-Aid of “things will be better tomorrow”… but tomorrow never came. After having the opportunity to spend some face time with the CEO of GENBAND (Charlie Vogt) and his entire cabinet, I really believe that tomorrow is here.

    Charlie and his team are highly skilled individuals that are also highly motivated. Equally impressive is their excitement to now own CVAS. Charlie told me personally (and repeated in the GIS) that he has been trying to acquire CVAS even before we went into Chapter-11. CVAS is a perfect fit for GENBAND and there is virtually little to no overlap in products.

    I also met Pablo Gargiulo who is the Sales and Technical Operations leader for Genband. They are VERY impressed with our ER operation. After a few minutes of introductions and discussion I asked Pablo “what does GENBAND have for an ER service”…. He paused only briefly, placed his hand on my shoulder and replied with a smile… “We have YOU”.

    I wish everyone would have the opportunity to have had the face time that I did, but I can assure you… we are in GREAT hands and they genuinely want and need our skills and service.

    Please don’t think this is regular Cool-Aid… Charlie is not satisfied with just having CVAS. He has clearly stated that this is only a step in making GENBAND not only the market leader in IP services, but he intends to capture 60+% of the market share.

    He was specific in his goals and confident in his plan. They are not done building this company and they will not tolerate complacency. There is a lot of work to be done, but as Charlie stated, “Your efforts (good or bad) will be felt”.

    We are now part of a smaller company. A company with a family environment that is focused only on forward direction. They are not tolerant of failure nor quitting. This is the best solution for Nortel CVAS and I will be proud to service if I am one of the lucky to receive an offer.

    I hope that you all can find the same energy and desire. We can finally feel the fruit of or labors.

    Murray Gault

  • scalppeeler

    What a joke. One has to really feel pity for the caknuckleheads.
    From the glories of Crosbys Golden Goal to the utter humiliation and
    embarrassment of some chick flaunting the culture of a society she left at the expense of the country (Canada) that let her in. This is how she shows her appreciation, pumping the place and society she left. On a positive note there is no way she will win the Miss Universe Canada and go on to represent the country although you never know in Trudeaus land of charter utopia. Ever since Trudeau and the guy before him stepped in whatever it meant to be Canadian and that identity has been lost. Today in Canada and around the world the definition of being Canadian means “Bringing ones culture, traditions and attitude from the country they left to the country that let them in at the expense of all the Traditions, Customs and Cultures that have been established in their new homeland for generations if not centuries”. What a crock. Maybe we'll see a female leprachaun or somebody wearing an israeli cap, or maybe a kilt, hajib or burkha. If the pageant had any brass or brains the would tell her to stay home.

  • less

    OT, but I just now noticed that on the list of the richest CEOs in Wireless 2007

    http://www.rcrwireless.com/ARTICLE/20081009/WIR…

    is not only the CEO who blew my pension and took my favorite job away, Mike Z, but also on the list is the man who is now living with my ex-girlfriend. Her saying adios to me was the reason I pulled up stakes and started a new life doing telecom work at Nortel, far away from home.

    Simply unbelievable.

  • stillatnortel

    I actually had a really good vibe after todays meeting as well. I've been trying to get on with Avaya (with a pretty good potential to do so), but am now rethinking that after the GIS. As for further reductions after the close, I asked Charlie directly and he indicated that absolutely none were planned and the desire is to start growing later this year.

  • Nortel watcher

    It seems that Genband has a sweet spot already for the folks in CALA. Unless I missed it a few days ago, I noticed today that Genband's website now has language choices for Spanish and Portuguese.

  • legalrobbery

    Exercise great caution for your current leadership will be traveling along with you. For the prophecy to be fulfilled, the Israelites must be freed. *Search deeper…what is the current state for Netas and TMA.

    Prayers for all

  • wasthere

    In the mean time ……. BYE BYE Pavi

    http://ottawa.ctv.ca/servlet/an/local/CTVNews/2…

  • StillAtIt

    You might re-think Avaya… they have just laid off a large number of “heritage Nortel” employees (at approximately 90 day mark). From the sound of it, there are more planned in the coming months.

  • StillAtIt

    You might re-think Avaya… they have just laid off a large number of “heritage Nortel” employees (at approximately 90 day mark). From the sound of it, there are more planned in the coming months.

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