(ADPnews) - Nov 25, 2009 - Swedish telecoms equipment maker Ericsson AB (STO:ERIC B) said today that it was chosen to buy the North American GSM business of Canadian sector player Nortel Networks Corp (OTC:NRTLQ) for USD 70 million (EUR 46.7m) on a cash and debt free basis.
The deal covers certain assets of Nortel's Carrier Networks division, Ericsson said.
Ericsson made its offer together with Austrian sector company Kapsch CarrierCom AG, part of the Kapsch Group. Kapsch will acquire most of Nortel's remaining assets outside North America for USD 33 million.
Nortel has been under bankruptcy protection since January.
The transaction …
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