Log in / Register
  • ENEPIG Corrosion Mechanisms

    ENEPIG Corrosion Mechanisms

    Different types of nickel corrosion and potential mitigation strategies.
      READ MORE...

  • The Future is Thin, Flat and Flexible

    The Future is Thin, Flat and Flexible

    What’s ahead for antennas, heaters and inks.
      READ MORE...

  • Royalty Flush

    Royalty Flush

    A noted solutions architect offers an audacious plan for AI acceptance. It just might work.
      READ MORE...

  • Rocking and Rolling at ZIW

    Rocking and Rolling at ZIW

    The annual user event was tuned into AI, but that’s not the only melody being played.
      READ MORE...

  • Can Thailand Pad its PCB Gains?

    Can Thailand Pad its PCB Gains?

    2023 saw only a handful of fabricators gain ground, but SE Asia is primed to boom.
      READ MORE...

Homepage Slideshow

Nortel Creditors Call for Changes to Nokia Sale

Published: 30 June 2009
 by Staff
SAN JOSE -- Flextronics is among several Nortel Networks creditors calling for changes to the beleaguered telecom OEM's planned sale of certain wireless assets to Nokia Siemens Networks.

The Nortel-Nokia Siemens deal is worth some $650 million, which Nortel desperately needs to exit bankruptcy. But the creditors could hold up or cancel the deal, pending changes to the auction for the company's CDMA and LTE wireless assets.

Among their chief complaints: The $22.5 million breakup fee owed to Nokia Siemens, should Nortel sell the assets to someone else, and a term that permits Nokia Siemens to see competitors' bids. The creditors claim the rules unfairly handicap other potential bidders.

Nortel said it had one other bid besides the offer from Nokia Siemens. The Nokia Siemens deal is expected to close in July, pending other offers. According to reports, Nortel's creditors want the auction to last at least 15 more days in the hopes of generating additional bids.

Flextronics heads the major US creditors committee. The EMS firm makes a reported 70% of Nortel's equipment.
Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article