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Ericsson CEO clueless about fate of Nortel deal

Category :International Sub Category :Americas
2009-08-22 00:00:00
   Views : 305

Toronto, Aug 22 - 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.

The 124-year-old Toronto-based Nortel, which has been operating under bankruptcy protection since January, is selling its businesses one by one to pay off debtors.

BlackBerry maker RIM, which was shut out of bidding for refusing to sign non-disclosure agreements, and opposition parties say the deal is against 'national interest' as it puts sensitive Canadian technology in foreign hands.

Bowing to their pressure, the government asked a parliamentary committee to review the deal.

Top representatives from RIM, Nortel and opposition leaders have already appeared before the committee and the ball is now in the government's court.




Author :Indo Asian News Service



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