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Tag Archives: Ericsson
Ericsson Reportedly Buys LG Stake
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 [...]
Why the Low Price for GSM Business?
Earlier this week, Nortel sold its GSM and GSM-R business units for $103-million – Ericsson paid $70-million for the North American assets, while Kapsch paid $33-million for everything. Now, $103-million is nothing to sneeze at but it seems like a relatively small number given the GSM business had revenue of $1.36-billion in 2008. Of that [...]
Who’s Else Wants MEN
With three days left before bidding closes for Nortel’s metro Ethernet network business, the big question is whether anyone else is going to step up to the plate. In a research report issued today, Jefferies & Co. analyst George Notter suggests other bidders could include Ericsson and Nokia Siemens Networks, which lost out to Ericsson [...]
Ericsson Deal is Done
The $1.13-billion sale of Nortel’s CDMA wireless business and its LTE R&D unit has been completed. “Completion of this first large-scale divestiture is a major milestone in Nortel’s plan to preserve the value of its innovation and know-how while maximizing value through the sale of its businesses,” Pavi Binning, Nortel’s chief restructuring officer, said in [...]
Ericsson Canada’s Mark Henderson Talks About Nortel Deal
The Globe & Mail’s Simon Avery did a Q&A with Ericsson Canada president Mark Henderson about the company’s purchase of Nortel’s CDMA business and LTE R&D unit. Among the highlights is the that the deal will double Ericsson’s R&D spending Canada, which totalled $126-million in 2008. More: Nortel said today that the deal with Ericsson [...]
Nortel’s Cupboards Almost Bare of Assets Now