Nokia Siemens Inks $650M Deal For Nortel Assets

Law360, New York (June 22, 2009, 12:00 AM EDT) -- Nokia Siemens Networks BV has reached a $650 million deal to acquire the wireless infrastructure business of bankrupt telecommunications company Nortel Networks Corp.

Nortel confirmed Friday that the company has entered into a stalking horse agreement with Nokia Siemens for the sale of nearly all of its code division multiple access business. Nortel's wireless business is the second largest supplier for infrastructure for CDMA, a mobile phone standard. The deal also includes Nortel's next-generation wireless broadband technology LTE Access assets.

Nortel also announced Friday that it...
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