Nortel Networks Corp. (NRTLQ.OB) said Friday that it, its principal operating subsidiary Nortel Networks Limited, and certain of its other subsidiaries including Nortel Networks Inc., have completed the sale of substantially all of Nortel's CDMA Business and LTE Access assets to Telefonaktiebolaget LM Ericsson for a purchase price of US$1.13 billion.
The sale was subject to court approvals in the U.S. and Canada as well as regulatory and other customary closing conditions. Those conditions have now been satisfied and the sale was concluded effective Friday.
Under the terms of the sale, Nortel will provide transitional services to Ericsson, and Ericsson will provide products and services to Nortel in support of those CDMA customers remaining with Nortel.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.