Ericsson Adds Nortel's GSM Unit For $70M

Law360, New York (November 25, 2009, 12:41 PM EST) -- Swedish telecommunications giant Telefonaktiebolaget LM Ericsson announced Wednesday a deal to purchase bankrupt Nortel Networks Corp.'s GSM assets in the United States and Canada in a $70 million all-cash deal, adding to Ericsson's purchase haul from the collapse of the Canadian telecommunications company.

In addition, Austrian wireless communications firm Kapsch CarrierCom AG will take on Nortel's GSM services in the rest of the world, including Europe and Taiwan, Ericsson said Wednesday.

Both transactions are pending bankruptcy court approval in the U.S. and Canada as well as...
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