Line goes dead on Nortel Networks (Dealscape

Nortel Networks Corp. hoisted the white flag on Friday, accepting a tentative $650 million bid for its wireless infrastructure business and essentially admitting the phone equipment maker will never make a comeback.

The Canadian company, which is under bankruptcy protection in Canada and the U.S., said in a statement it has accepted the bid from Nokia Siemens Networks BV of Finland. Though the statement said it was a stalking-horse bid, it gave no details on the process for other parties to make offers for the business.

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190 in-depth reports of Bankruptcies in the Telecommunications sector
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NOT A SUBSCRIBER? Line goes dead on Nortel Networks Posted on June 22, 2009 12:56 PM Nortel Networks Corp. hoisted the white flag on Friday, accepting a tentative $650 million bid for its wireless infrastructure business and essentially admitting the phone equipment maker will never make a comeback. The Canadian company, which is under bankruptcy protection in Canada and the U.S., said in a statement it has accepted the bid from Nokia Siemens Networks BV of Finland. Though the statement said it was a stalking-horse bid, it gave no details on the process for other parties to make offers for the business. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 190 in-depth reports of Bankruptcies in the Telecommunications sector 54 in-depth transaction records for Nortel 53 articles related to Nokia Siemens 20 in-depth reports of Bankruptcy Auctions in the Telecommunication sector 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Skadden Arps IMS Cadbury Antitrust Hyatt Corp. Evercore Scripps CIT Agrium Inc.		EXISTING USERS Username Password Forget your password? Missing a product?

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