Nortel's GSM business also on auction blockOctober 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.
Verizon Wireless discontinues the $150 'Hub,' a home phone with a touch screenSeptember 30th, 2009 Verizon discontinues 'Hub' touch screen home phoneNEW YORK — Verizon Wireless is pulling the "Hub," an Internet-connected home phone with an iPhone-like touch screen, after just eight months on the market. The carrier stopped selling the phone this week, but will continue to support ones already bought, Verizon Wireless spokeswoman Debra Lewis said Wednesday.
Canada to review Avaya purchase of Nortel assets to determine if deal benefits CanadaSeptember 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.
Nortel puts carrier network business also on saleSeptember 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.
Canada won't block Nortel sale of wireless unit to EricssonSeptember 16th, 2009 Canada won't block Nortel sale to EricssonTORONTO — Canada's industry minister says the government won't block the $1.1 billion sale of Nortel Networks' wireless division to Sweden's Ericsson. Industry Minister Tony Clement said Wednesday there is no basis for a federal review of the deal on national security grounds.
Canadian media favours protectionism, wants Nortel sale cancelledJuly 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.
Courts approve Nortel sale; Canada's opposition says stop itJuly 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.
Ericsson buys Nortel's wireless business for $1.13 bnJuly 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.
Nortel's end begins with auction of wireless businessJuly 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.
Research In Motion hangs tough on Nortel Networks wireless bid, says fight for assets not overJuly 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.
Sprint Nextel signs $5 billion networking deal with Ericsson, transfers 6,000 employeesJuly 9th, 2009 Sprint Nextel signs networking deal with EricssonKANSAS CITY, Mo. — Sprint Nextel Corp.
Ericsson names former financial chief as new CEO as Svanberg becomes BP chairmanJune 25th, 2009 Ericsson names new CEO as Svanberg goes to BPSTOCKHOLM — Swedish wireless equipment company L.M. Ericsson on Thursday said its financial chief Hans Vestberg will become the new CEO when Carl-Henric Svanberg moves to head the board of BP Group PLC.
NY's Sen. Schumer prods MTA on wireless Internet access on railsJune 15th, 2009 NY Sen. urges MTA action on wireless InternetGARDEN CITY, N.Y. — Sen. Charles Schumer contends the commuter railroads serving New York City have been slow to implement wireless Internet service.
Telenor acquires 49 percent stake in Unitech WirelessMay 20th, 2009 MUMBAI - Norway's Telenor has acquired another 15.5 percent stake in Unitech Wireless, the telecom arm of realty major Unitech, for Rs.1,130 crore (Rs.11.3 billion/$237 million), taking its shareholding in the Indian company to 49 percent, it was announced Wednesday. 'Unitech Wireless on May 19, 2009, received an amount of Rs.1,130 crore in aggregate from Telenor Asia Pte Ltd for acquisition of further 15.5 percent stake in Unitech Wireless by way of issuance of fresh shares,' the Indian telecom operator said in a regulatory statement.
Ericsson unveils new telecom tower for Indian marketMarch 20th, 2009 HYDERABAD - Ericsson, a leading provider of technology and services to telecom operators, Thursday unveiled its new energy-efficient and less expensive radio base station site concept, Ericsson tower tube, for the Indian telecom market. The tower tube is designed to reduce the total cost of ownership for customers and provide a sustainable, energy-efficient and cost-effective means of communications.
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