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Sunday, June 21, 2009

Nokia Siemens buying mobile business from Nortel

Nokia Siemens Networks has agreed to buy Nortel’s LTE and CDMA assets; the ‘mobile’ parts of Nortel’s business. Nortel filed for bankruptcy protection in January. The deal is worth $650 million and will give Nokia Siemens Networks a much stronger foothold in the North American market. Over 2,500 Nortel employees in Canada, the United States, Mexico and China will be transferred to Nokia Siemens Networks. [Press release]

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