FTC Blesses $650M Nortel Sale To Nokia Siemens

Law360, New York (July 7, 2009, 12:00 AM EDT) -- The Federal Trade Commission has signed off on a deal that would allow Nokia Siemens Networks BV to purchase the wireless infrastructure business of bankrupt telecommunications company Nortel Networks Corp. for $650 million.

The antitrust regulator blessed the deal in an order Tuesday. Late last month, Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware signed off on the bidding procedures for the $650 million stalking horse bid offered by Nokia Siemens, which is a joint venture between Siemens AG and Nokia...
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