US and Canadian courts are expected on Tuesday to approve Ericsson’s $1.1bn bid for most of the core wireless assets of Nortel Networks, the Canadian telecoms equipment company operating under Chapter 11 bankruptcy protection. The assets include Nortel’s businesses in CDMA wireless technology used in North America. Ericsson outbid Nokia Siemens and MatlinPatterson at the end of a six-round, nearly 12-hour auction that finished late on Friday night in New York.

This entry was posted by Gwen Robinson on Monday, July 27th, 2009 at 5:01 and is filed under Capital markets, M&A. Tagged with ericsson, Nortel. Edit this entry.