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Tag Archives: Canada
Ottawa Gives A-O-K to Ericsson Deal
Like AAN has been saying all along, the Canadian government has given its approval to Ericsson’s $1.3 billion purchase of Nortel’s CDMA business and its LTE R&D unit. “There are no grounds to believe this transaction could be injurious to Canada’s national security,” Industry Canada Minister Tony Clement said. “[Ericsson] has the resources and customer [...]
Pennies for Canadian Pensioners?
As Nortel satisfies the needs of creditors by raising money through the Nortel Garage Sale, one of the big questions is whether there is going to be anything left for Nortel’s pensioners and ex-employees, as well as people on long-term disability. So far, Nortel has clawed back new retirees to 69% of their original pension [...]
No Review for You, Nortel
The Globe & Mail has an interesting story on how Canada isn’t likely to stop the sale of Nortel’s CDMA business to Ericsson because the book value of the assets involved falls below a threshold that would trigger a review. Although the deal is worth $1.13-billion, Nortel values the assets at $149-million, which is less [...]
Ottawa Won’t Block CDMA Sale
As I’m expounded on several occasions since Ericsson’s $1.13 billion bid to buy Nortel’s CDMA wireless business and LTE R&D unit received court approval, the deal will not be blocked by the Canadian government. Sure, there’s a lot of politicians talking about protecting national assets, and the government talks about reviewing the deal but the [...]
Where Was the Canadian Government?
Here’s a question that no one seems to be asking as the political uproar builds surrounding the sale of Nortel’s assets (aka The Nortel Garage Sale): Why did the federal government decide not to provide Nortel with financial support despite holding numerous meetings with the company? (Note: Nortel CEO Mike Zafirovski said there were 13 [...]
Ottawa Didn’t Kill Nortel; Nortel Killed Nortel