Nortel to sell GSM business
Nortel Networks is to auction its global GSM/GSM-R business as part of its restructuring in the wake of bankruptcy.
The beleaguered company also plans to transfer specified patents mainly used in the GSM business and grant non-exclusive licences of other relevant patents in the process, according to reports.
The company said its subsidiaries Nortel Networks Limited (NNL), Nortel Networks Inc, Nortel Networks UK Limited and Nortel Networks SA are part of the open auction.
The company said it was taking this approach to enable the industry to continue to benefit from Nortel-created technology.
US and Canadian courts earlier this year approved the sale of Nortel's enterprise business to Avaya for about $900m. This followed the $1.13bn sale of Nortel's wireless assets to Sweden's Ericsson.
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