NEW YORK, June 19 (Reuters) – Nortel Networks (NT.TO) said on Friday that it will sell its CDMA business and LTE wireless technology assets to Nokia Siemens Networks [NSN.UL] for US$650 million and th
NEW YORK, June 19 (Reuters) – Nortel Networks (NT.TO) said on Friday that it will sell its CDMA business and LTE wireless technology assets to Nokia Siemens Networks [NSN.UL] for US$650 million and that it was making progress in talks to sell its other businesses.
Nortel, once the largest North American maker of telecommunications gear, collapsed into bankruptcy in January, blaming the economic crisis for derailing a turnaround effort that began in 2005.