Thursday, October 29, 2009

Nortel and Ericsson Expect to Close Wireless Sale this Month

Nortel Networks and Ericsson announced an amendment of their previously announced asset sale fir substantially all of Nortel's CDMA business and LTE Access assets. Under the amendment, Nortel and Ericsson have extended to November 30, 2009 the date by which to close the sale. The parties expect to close the sale prior to such date. The parties agreed to the extension in order to allow more time for the satisfaction of closing conditions, including regulatory approvals.


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