RIM says Canada should review Nortel deal to sell wireless business to Sweden's EricssonAugust 20th, 2009 RIM urges Canadian government to reviewOTTAWA — BlackBerry maker Research in Motion says Canadians want and expect the Canadian government to prevent the $1.1 billion sale of Nortel Network's coveted wireless assets to Ericsson of Sweden. Canada-based RIM issued a statement Wednesday after the deadline passed for appeals to challenge a bankruptcy court ruling allowing the Nortel sale to the Swedish telecommunications firm.
Canada okay for Nortel sale likleyAugust 20th, 2009 TORONTO - The Canadian government, which is reviewing the sale of Nortel's wireless business to Swedish telecom major Ericsson after protests by opposition parties and BlackBerry maker Research In Motion (RIM), is almost set to give the go-ahead to the deal. The 124-year-old Nortel, which has been operating under bankruptcy protection since January, is selling its business part by part to pay off its debtors.
Nokia Siemens in $650 million deal for Nortel NetworksJune 20th, 2009 Nokia Siemens buys Nortel in $650 million dealHELSINKI — Nokia Siemens Networks said Saturday it will buy Canadian-based Nortel Networks in a $650 million (€465 million) deal. "Nokia Siemens Networks has taken a significant step towards strengthening its leadership in Long Term Evolution, or LTE, next generation wireless technology and expanding its market presence in North America," Nokia Siemens said.
Nortel to shut down, sells wireless business to NokiaJune 20th, 2009 TORONTO - Toronto-headquartered Nortel, which is under bankruptcy protection in both the US and Canada, has announced that it will liquidate itself. In a statement issued Friday, the 127-year-old Canadian telecom equipment giant said it has entered into a deal with Nokia Siemens to sell its wireless business for $650 million.
Nokia Siemens in $650 million deal for wireless operations of Nortel NetworksJune 20th, 2009 Nokia Siemens in deal to buy Nortel wireless unitsHELSINKI — Nokia Siemens Networks said Saturday it will buy the wireless operations of Canadian-based Nortel Networks in a $650 million (euro465 million) deal to strengthen its position in North American markets. The Finnish-German joint venture said it will purchase the LTE and CDMA assets of Nortel, a former telecom equipment giant now operating under bankruptcy protection.
Nokia Siemens buying Nortel wireless units, Nortel to liquidateJune 20th, 2009 Nortel to sell itself off in piecesTORONTO — Nortel Networks, once a technology giant, has decided to sell itself off in pieces rather than attempt to emerge from bankruptcy as a restructured company. Nokia Siemens Networks agreed to buy some wireless operations of Canada's Nortel Networks Corp.
Private equity firm MatlinPatterson bids $725 million for wireless assets of Nortel NetworksJuly 21st, 2009 MPAM bids $725 mln for Nortel assetsNEW YORK — A private equity firm specializing in distressed assets says it is bidding $725 million to acquire the cell phone network assets of Nortel Networks Corp., topping a previous $650 million bid from Nokia Siemens Networks. MPAM Wireless, an affiliate of MatlinPatterson Global Opportunities Partners III LP, said it submitted the bid for Nortel's CDMA and LTE assets to Nortel and its creditors Tuesday.
Ericsson profits drop 56 pct in second quarter due to restructuring, joint venturesJuly 24th, 2009 Ericsson profits drop 56 pct in 2nd quarterSTOCKHOLM — Swedish wireless equipment maker LM Ericsson AB's second-quarter profits plunged 56 percent partly because of restructuring charges and losses in its mobile phone unit, Sony Ericsson, the company said Friday. The world's leading supplier of broadband networks said net profit in the April-June period was 831 million kronor ($111 million), down from 1.9 billion kronor in the same three months last year.
BlackBerry cries foul as its bid for Nortel is scuttledJuly 21st, 2009 TORONTO - Playing up the nationalist card, BlackBerry maker Research In Motion Limited (RIM) has cried foul over the denial of the right to bid for the wireless businesses of dying Canadian telecom giant Nortel. Toronto-based Nortel, which is selling its various businesses to liquidate itself as part of bankruptcy protection, is selling its CDMA and Long Term Evolution Access businesses this Friday.
Ericsson sees profits fall 61 pct in second quarterJuly 24th, 2009 Ericsson profits fall 61 pct in second quarterSTOCKHOLM — Swedish wireless equipment maker LM Ericsson AB on Friday said its second-quarter profits plunged 61 percent partly because of restructuring charges and losses in its mobile phone unit, Sony Ericsson. Ericsson said net profit in the April-June period was 800 million kronor ($106 million), down from 2 billion kronor in the same three months last year.
Ericsson sees profits fall 56 pct in second quarterJuly 24th, 2009 Ericsson profits fall 56 pct in second quarterSTOCKHOLM — Swedish wireless equipment maker LM Ericsson AB's second-quarter profits plunged 56 percent partly because of restructuring charges and losses in its mobile phone unit, Sony Ericsson, the company said Friday. The world's leading supplier of broadband networks said net profit in the April-June period was 831 million kronor ($111 million), down from 1.9 billion kronor in the same three months last year.
Yingli Green signs fourth-quarter supply deal with Czech Republic's CTP InvestAugust 26th, 2009 Yingli Green signs supply deal with CTP InvestWASHINGTON — Solar cell maker Yingli Green Energy Holding Co. and CTP Invest spol, a Czech-based commercial property developer have signed a supply agreement.
Bhupathi-Knowles ousted from Sony Ericsson Open doublesMarch 29th, 2009 MIAMI - India's Mahesh Bhupathi and his Bahamian partner Mark Knowles have been ousted from the $4,500,000 Sony Ericsson Open. The third-seeded Indo-Bahamian pair went down fighting to Frenchmen Julien Benneteau and Jo-Wilfried Tsonga 6-3, 5-7, 6-10 in the first round here Saturday.
Mobile phone maker Sony Ericsson posts 2Q net loss of €213 millionJuly 16th, 2009 Sony Ericsson posts another loss in 2QSTOCKHOLM — Handset maker Sony Ericsson said Thursday it booked another loss in the second quarter as the global economic crisis continued to weigh on mobile phone sales. The LM Ericsson and Sony Corp.
Mobile phone maker Sony Ericsson posts 2Q net loss of euro213 millionJuly 16th, 2009 Sony Ericsson posts another loss in 2QSTOCKHOLM — Handset maker Sony Ericsson said Thursday it booked another loss in the second quarter as the global economic crisis continued to weigh on mobile phone sales. The LM Ericsson and Sony Corp.