Nortel, once one of the largest telecommunications equip. manufacturer, filed bankruptcy back in January of this year. Due to the bankruptcy, Nortel is selling its LTE and CDMA assets to Nokia Siemens for a whopping $650 million. The acquisition will improve Nokia Siemen’s position in both North America and the growing LTE business. There is expected to be an approval on this acquisition from both the US bankruptcy court and the Ontario Superior Court of Justice in Q3 2009.

via: Nokia - ShowPressRelease

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