Delisted soon Nortel to 650 million sale of core assets to Nokia Siemens Networks

As part of restructuring plan, Nortel Networks, the former technology giant has agreed to its core assets to $ 650,000,000 sold to Nokia Siemens Networks (hereinafter referred to as Nokia Siemens Networks). Meanwhile, the company is also the rest of the assets of their own to find suitable buyers.

According to the Associated Press reported, has been working to develop the North American market, Nokia Siemens Networks recently said it has agreed to buy Nortels CDMA network business and MC1596L datasheet and LTE (Long Term Evolution) wireless technology assets of both businesses. However, according to bankruptcy auction process, the transaction is subject to court approval, while other companies can still make a higher offer to bid.

Nortel is a Canadian company with 127 years of history. Nortel since January this year filed for bankruptcy in the United States and MC1596L price and Canada after its chief executive Mike Zafirovski ? (Mike Zafirovski) to want to restructure the company so that Nortel will continue to survive. He said in an interview, the sale of assets is not the purpose of Nortel. However, for each class of Nortels assets, are 3-7 Nortel is working with the acquisition of further negotiations. If the price is appropriate and MC1596L suppliers and met the appropriate integration plan, then the future will be Nortels overall form of the past no longer exists in the world. He also noted that Nortels enterprise business, Metro WDM Internet business, operators and application of IP voice services, and part of the wireless business is the list of assets held for sale.

Other , Nortel also said it would apply to the Toronto Stock Exchange delisted.

Learned that the worlds major areas of Nortel employees in more than 2.5 million people. 90 in the 20th century, the telecommunications and Internet boom period, the total number of Nortel employees had topped 9.5 million. By 2000, Nortels market capitalization is the Toronto Stock Exchange accounted for one-third of market value. However, with the Internet bubble burst, Nortel began a series of problems surfaced. The accounts of the crisis caused by shareholder lawsuits, investigations from regulators, as well as including the then chief executive Frank Dunn ? (Frank Dunn) executives, including the departure of more than one such event and then a breaking out.

Zafirovski said that Nortel was once the market value of up to 2,500 billion U.S. dollars. But when he joined Nortel in 2005, the company has a large market capitalization fell to 100 million. Nortel has also tried to help his transition, but a serious economic crisis, the impact of Nortels plan. Downturn in the global market, Nortel became the first misfortune to seek bankruptcy protection of large technology companies. Zafirovski had also implemented a series of layoffs and restructuring plans. He expressed the hope that the next asset transactions can help employees to join the new company. He also believed that such a deal for all shareholders is the most beneficial. Zafirovski Nortel on Saturday and 2,500 people held a managerial conference call Monday morning, they will notify the company of other staffs decision.

Currently has approximately 60,000 employees in Nokia Siemens Networks said it hopes the deal approved by the court as soon as possible. At the same time, they believe the deal will greatly enhance the technology Nokia Siemens Networks in the leading position in LTE, Nokia Siemens Networks in particular help to improve market share in North America, CDMA, and this will help Nokia Siemens Networks North America to become the leading wireless infrastructure products suppliers.

According to the agreement, Nortel will have 2,500 employees transferred Runuo Xi, which is part of a majority of staff are located in Canada and the United States. Nokia Siemens Networks said that the Government of Canadas export credit agency - Export Development Canada (Export Development Canada) will provide 300 million U.S. dollars deal of credit authorization.

Nortel in the first quarter of this year, 507 million net loss, revenue fell by 37% to 17 billion U.S. dollars. Canadas largest telecommunications companies including Bell Canada, Nortel, including customers, welcomed the deal, the deal ensures that Nortels R & D work continued. Sprint Nextel CEO Dan ? Hess (Dan Hesse), said the deal to eliminate the uncertainty of the wireless industry to enhance the present and the future of CDMA technology status.