Nokia Siemens buying Nortel wireless units, Nortel to liquidate
TORONTO (AP) — 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. in a $650 million deal as the more than century-old Nortel announced it is looking for buyers for the rest of its assets.
The Finnish-German joint venture said Saturday it had agreed to buy the CDMA and LTE wireless technology assets of Nortel, a former telecommunications equipment powerhouse that sought bankruptcy protection in January and now plans to liquidate its business…….
