23 November, 2009
FACTBOX-Bankrupt Nortel's asset sales
Nov 23 (Reuters) - Ciena Corp (CIEN.O) will buy the optical
networking and carrier ethernet business of bankrupt Nortel
(NRTLQ.PK) for $769 million, sources told Reuters.
[ID:nGEE5AM0EO]
Following is the list of asset sales by the Canadian
telecoms equipment maker since it filed for creditor protection
in January:
ERICSSON PAYS $1.13 BLN FOR CDMA-LTE ASSETS
Sweden's Ericsson (ERICb.ST) won an auction for Nortel's key
CDMA and next-generation LTE wireless technologies on July 25,
paying $1.13 billion for the crown jewels of the one-time
Canadian telecom star. [ID:nN25483564]
The deal, which closed in November, gives the Swedish
telecom gear maker a strong position in the CDMA business and
puts it in a good position when CDMA operators look for
next-generation networks in the next few years.
AVAYA PAYS $900 MLN FOR CORPORATE NETWORK UNIT
U.S. telecom equipment maker Avaya Inc [AVXX.UL] won on
Sept. 14 an auction to buy unit that builds networks and
voicemail systems for companies and governments, paying $900
million for the business. [ID:nBNG472202]
CIENA TO PAY $769 MLN FOR METRO ETHERNET OPERATIONS
U.S. network equipment maker Ciena will pay $769 million for
most of Nortel's Metro Ethernet Networks unit -- optical
networking and the carrier ethernet business -- after trumping
Nokia Siemens Networks [NSN.UL] in a three-day auction, sources
told Reuters.
The deal will more than double Ciena's turnover, prompting
the market to focus on how the firm will integrate the new
operations and cope with an increased debt load.
HITACHI BUYS SOME ASSETS FOR $10 MLN
Nortel said on Oct 26 it has agreed to sell certain software
assets and technology associated with the development of next
generation packet core network components for $10 million to
Hitachi.
GSM/GSM-R ASSETS STILL ON THE BLOCK
Nortel said on Nov 19 it would this week update the schedule
for auction of its GSM and GSM-R assets.
Nokia Siemens Networks, which has lost auctions for the CDMA
unit and for assets of the Metro Ethernet unit, is expected to
be among the interested parties.
(Reporting by Tarmo Virki; editing by John Stonestreet)
((tarmo.virki@reuters.com, +358-9-680 50 235, Reuters
messaging: tarmo.virki.reuters.com@reuters.net))
Source: http://www.reuters.com
FACTBOX-Bankrupt Nortel's asset sales Added: (23.11.2009)
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