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Ericsson Enters Nortel Asset Auction with $730M Bid

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Jul 23, 2009, 7:42 AM by Eric M. Zeman

Ericsson has entered the bidding for Nortel's CDMA and LTE networking assets by offering $730 million for them. Ase Lindskog, spokeswoman at Ericsson, said, "We always look at opportunities that can be of interest for Ericsson and create value for us, and we participate in this process to the point it makes sense." Other companies that have placed bids for the Nortel assets include Nokia Siemens Networks ($650 million) and private investors MPAM Wireless ($750 million). The auction is set to take place on Friday.

Yahoo News / Reuters »

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