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Nortel and Ericsson amend asset sale agreement

Nov 03, 2009 (Datamonitor via COMTEX) --

Companies: Telefonaktiebolaget LM Ericsson (ERIC)

Nortel Networks has announced that it, together with its principal operating subsidiary Nortel Networks Limited and Nortel Networks Inc, entered into an amendment of its previously announced asset sale agreement with Telefonaktiebolaget LM Ericsson regarding the sale of substantially all of Nortel's CDMA business and LTE Access assets.

Under the amendment, Nortel and Ericsson have extended to November 30, 2009 the date by which to close the sale. The parties expect to close the sale prior to such date.

The parties agreed to the extension in order to allow more time for the satisfaction of closing conditions, including regulatory approvals. 

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Companies: Telefonaktiebolaget LM Ericsson (ERIC)


Related terms: business

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