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Ericsson to pursue Nortel further if more assets on sale, says Ericsson President
TT Bureau |  |  24 Aug 2009

Even before the dust settled on Ericsson’s controversy-marred purchase of Nortel Networks Corp.’s wireless assets, the Swedish telecom gear maker said it will buy further assets if available on sale.

 

“Any asset that came up for sale that was complementary to our business we would look at,” said Mark Henderson, president of Ericsson’s Canadian unit.

 

Ericsson in July agreed to buy Nortel’s wireless unit, including licenses for some patents based on long-term evolution, or LTE for $1.13 billion, inviting large scale opposition from RIM, the Canadian maker of the BlackBerry phone, who called on the government to re-look at the transaction alleging threats to national security.

 

As a part of the transaction, Nortel will sell about 2,000 patents along with its main businesses, said former Nortel Chief Executive Officer Mike Zafirovski.

 

Nortel decided to sell its wireless unit filing for bankruptcy protection in January following losses of almost $7 billion in two years.

    
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24 Aug 2009(IST)  
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