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FTC Approves of Nokia's Nortel Acquisition

Jul 7, 2009, 12:14 PM by Eric M. Zeman

The Federal Trade Commission has officially approved of Nokia Siemens Network's bid to acquire large portions of ailing Nortel's LTE and CDMA businesses. Late last month, Nortel indicated it would no longer attempt to re-organize while under bankruptcy protection and would instead sell off its business in pieces. Nokia Siemens Networks put in a $650 million bid for some of Nortel's wireless networking assets. Nortel's assets will be auctioned off July 24, and Nokia Siemens Networks has the right to beat any subsequent bids. If Nokia Siemens Networks wins the auction, the deal still needs to be approved by other government agencies.

Reuters »

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Comments

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Disrespect

Jul 7, 2009, 2:14 PM

LOL

All that money for nothing. THe fcc/goverment is going to force all these big companys apart anyways so they're wasting all there money.

HawkeyeOC

Oh no! Nokia is picking up assets from a company that imploded long ago without the help of the govt 😳 They must be stopped 😲

Go ahead fcc/government and approve this and then take it away later just because this guy says so 🤣 🤣

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