Ericsson bids to acquire Nortel Wireless Assets

Posted: July 23, 2009 in Tech

Ericsson has offered a $730-million bid for Nortel’s wireless network division. Ericsson officially joined the auction for the Nortel division after Nokia Siemens Networks (NSN) and private equity firm MatlinPatterson Global Advisers (via its affiliate, MPAM Wireless) have already submitted advance bids for Nortel’s CDMA and LTE (Long Term Evolution) assets.

NSN bid $650 million for the Nortel assets in late June, while MatlinPatterson’s MPAM Wireless this week offered $725 million. Research In Motion Ltd. (RIM) is still expected to participate, despite its complaints about the pre-auction bidding process.

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