Canada won’t block Nortel sale of wireless unit to Ericsson

October 7th, 2009 Ciena bids $521M for Nortel business unitsTORONTO — Ciena Corp. is offering cash and stock worth $521 million to acquire some of Nortel's most-prized remaining business units as the fallen telecommunications company continues to liquidate.

October 2nd, 2009 TORONTO - Nortel, the 124-year-old Canadian telephone equipment company that is selling its various businesses to pay off its debtors, has announced to auction its GSM (global system for mobile communication) business also. Like the previous auctions of the company's wireless business and enterprise unit, the GSM division will also be sold through "open auction", Toronto-based Nortel said in a statement here.

September 24th, 2009 Canada to review Nortel-Avaya dealTORONTO — Canada's industry minister said Thursday he will review the sale of Nortel's enterprise division to U.S. telecom company Avaya to determine if the deal significantly benefits Canada.

September 23rd, 2009 TORONTO - The bankrupt Nortel has taken yet another step closer to fading into history by announcing auction of its carrier networks business. The decision was announced Monday.

September 16th, 2009 US, Canadian judges approve Nortel bankruptcy saleWILMINGTON, Del. — Nortel Networks Inc.

September 16th, 2009 Nortel bankruptcy judge denies Verizon objectionWILMINGTON, Del. — The judge presiding over the Nortel Networks bankruptcy has ruled against an objection by Verizon Communications Inc.

September 14th, 2009 Avaya in $900 million deal for Nortel businessNEW YORK — Nortel Networks, which has been operating under bankruptcy protection since January, has selected Avaya as the successful bidder for its segment that makes communications systems for businesses. Basking Ridge, N.J.-based Avaya Inc.

September 5th, 2009 TORONTO - Toronto-based Nortel, which is selling its businesses to pay off its creditors, will auction its second biggest division next Friday. The enterprise unit that makes network equipment will be auctioned under court supervision.

July 30th, 2009 TORONTO - Taking protectionism and nationalism to absurd levels, the Canadian media has now joined opposition parties to pressure the government to stop sale of Nortel assets to Ericsson. The Swedish telecom major acquired Toronto-based Nortel's wireless business for $1.3 billion at a court-supervised auction in New York Friday.

July 29th, 2009 TORONTO - Even as courts in Canada and the US Tuesday approved Ericsson's $1.13-billion bid last week to acquire the wireless business of Nortel, the 127-year-old Canadian corporate icon, political leaders here are putting pressure on the government to stop the sale. Once a world leader in telecom equipment technology, Nortel is selling all its businesses to pay back its creditors after suffering $5-billion losses last year.

July 25th, 2009 TORONTO - The liquidation of Canada's fabled Nortel began Friday. After a troubled decade, the 127-year-old telecom equipment giant went under the hammer in New York to sell its wireless business to the highest bidder.

July 25th, 2009 TORONTO - Swedish telecom major Ericsson has bought Nortel's wireless business for $1.13 billion. In a statement Saturday after Friday's court-monitored auction in New York, Ericsson said it has acquired Nortel's CDMA and futuristic long term evolution (LTE) technology.

July 24th, 2009 TORONTO - Sweden's Ericsson has entered the bid to acquire the next-generation wireless business of Nortel. Toronto-based Nortel, which is selling its various divisions as part of its liquidation plan, will auction its wireless business Friday in New York.

July 22nd, 2009 RIM hangs tough on bid for Nortel wireless assetsTORONTO — Communication industry analysts say Research In Motion is refusing to budge in its pursuit of Nortel Networks' wireless business because its key technology patents could help secure RIM's future as a mobile phone technology leader. Veritas Investment Research Corp.

July 21st, 2009 TORONTO - Nortel, the once global telecom equipment giant that declared it would liquidate itself last month, has announced that it was selling its enterprise business to rival Avaya Inc. for $475 million.