Nokia Siemens in $650 million deal for wireless operations of Nortel Networks

June 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.

July 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.

June 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.

June 29th, 2009 Nokia Siemens Networks gets euro250M loanHELSINKI — Wireless equipment firm Nokia Siemens Networks has received a euro250 million loan from the European Investment Bank to develop its network technologies, the company said Monday. The joint venture between Nokia Corp.

June 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.

September 1st, 2009 HELSINKI - Indian national Rajeev Suri is to be new chief executive of Nokia Siemens Networks, the 50-50 joint venture launched in 2007 between Finland's Nokia and Germany's Siemens, the group said Tuesday. Suri, 41, is to take over from Simon Beresford-Wylie on Oct 1.

August 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.

August 22nd, 2009 TORONTO - Swedish telecom major Ericsson, whose acquisition of Nortel's wireless business here last month has been challenged by BlackBerry maker Research In Motion (RIM) and Canadian opposition parties, says it is still in the dark about the fate of the deal. Ericsson was the highest bidder at $1.13 billion at last month's court supervised auction of Nortel's wireless division.

July 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.

August 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.

June 18th, 2009 NEW DELHI - Telecom equipment manufacturer Nokia Siemens Networks Thursday said it will upgrade Idea Cellular's network in 22 service areas in India. The company will use GPRS (general packet radio service) technology and its Unified Charging Solution to upgrade Idea's existing network that will enable the telcom major provide innovative mobile services like multimedia messaging, email, web browsing and online music.

April 16th, 2009 HELSINKI - Citing an 'exceptionally tough environment', Nokia, the world's largest maker of mobile phones, Thursday reported lower sales and a sharp drop in operating profit for the first quarter of 2009. The Finland-based company posted a pre-tax loss of 12 million euros ($15.8 million), compared to a pre-tax profit of 1.6 billion euros for the corresponding business period in 2008.

July 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.

April 28th, 2009 Nokia to lay off 450 employeesHELSINKI — Nokia Corp. said Tuesday it will lay off up to 450 workers worldwide and streamline operations, in a move to further cut costs.

April 30th, 2009 Motorola 1Q loss widens, but beats StreetNEW YORK — Motorola Inc. defeated low expectations Thursday, posting a smaller first-quarter loss than Wall Street had expected and regained its position as the world's fourth-largest maker of cell phones.