& cplSiteName &

Is Nortel M&A Near?

Ray Le Maistre
4/29/2009

9:15 AM -- The market should prepare for a potential flurry of asset sale news from bankrupt vendor Nortel Networks Ltd. , according to the latest reports from Canada and South Korea. (See Nortel Seeks Protection Extension.)

Following reports in the Korean press, the Financial Times published this story about how Nortel has hired Goldman Sachs & Co. to find a buyer for its stake in joint venture LG-Ericsson Co. Ltd.

And according to this report in the Ottawa Citizen, Nortel could announce other asset sales within the next few days.

The report suggests that the Enterprise business could be sold as early as this week, while the Metro Ethernet Networks business, which includes Nortel's optical assets, could be offloaded during the next five weeks, with Alcatel-Lucent (NYSE: ALU), Fujitsu Ltd. (Tokyo: 6702; London: FUJ; OTC: FJTSY), and Huawei Technologies Co. Ltd. in the running to buy it. (See Is Nortel Prepping a Major Sale? and Is Huawei Moving Closer to Nortel?)

The Carrier business (wireless and VOIP technology) would then be sold in the summer. Nokia Networks is seen as the favorite to land that asset. (See NSN Linked to Nortel Asset Bid.)

The Ottawa Citizen cites a Nortel spokesman saying that an update on its restructuring efforts is due to be published this week or next. Bring it on!

— Ray Le Maistre, International News Editor, Light Reading

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
More Blogs from EuroBlog
Having taken a breather from its acquisition spree in the US, Zayo could kick-start some infrastructure consolidation action in Europe
Some good news for its Finnish parent – Nokia Siemens Networks is on a margin roll
Telefónica to boost its broadband lines in LatAm with DSL management the from ASSIA
According to the value of Nokia's takeover deal, Nokia Siemens Networks is worth less than $5B
As APAC and North America forge ahead, Europe seems stuck in yesteryear
Featured Video
Upcoming Live Events
October 22, 2019, Los Angeles, CA
November 5, 2019, London, England
November 7, 2019, London, UK
November 14, 2019, Maritim Hotel, Berlin
December 3-5, 2019, Vienna, Austria
December 3, 2019, New York, New York
March 16-18, 2020, Embassy Suites, Denver, Colorado
May 18-20, 2020, Irving Convention Center, Dallas, TX
All Upcoming Live Events