Nortel's GSM Biz Headed to Auction Block
Nortel has officially put up its global GSM and GSM-R (for railroads) business units for sale. The company has taken the first steps in the U.S. and Canada to facilitate the sale. Bids for the GSM/GSM-R business units must be submitted by November 5, with an open auction to follow November 9. Nortel declared bankruptcy earlier this year, and eventually decided to sell off its business in pieces rather than restructure.