Nortel Accepts Nokia Siemens $650 Million Offer For Bankrupt Assets

Entities Mentioned

• Nokia
• Technology
• Nextel
• Nortel Networks
• Nokia Siemens
• Sprint Nextel

1. Nortel Networks, which has been struggling to sell off its assets since filing for bankruptcy in January, has accepted a $650 million bid from Nokia (NYSE: NOK) Siemens Networks, the second-largest telecom equipment maker in the world, reports WSJ. Nokia Siemens, a joint venture between Nokia and Siemens, initially made the offer in April. If it is finalized, it will buy the company’s CDMA division, which would give Nokia Siemens a huge footprint in the U.S. through carriers Verizon Wireless (NYSE: VZ) and Sprint (NYSE: S) Nextel. In addition, Nokia Siemens would also ... (Read Full Article)

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