Nortel announced on wednesday that it is planning to sell off its GSM and GSM-R (GSM for railways) assets via an open auction process due to be held on November 9, 2009. The transaction will include GSM related patents and non-exclusive licenses to other relevant patents.
Subject to approval of the bidding procedures filed with the US and Canadian courts, qualifying bidders will need to submit offers for the assets by November 5, 2009.
Earlier in September, Avaya emerged as the winning bidder for Nortel’s corporate communications unit, with an offer of close to a billion dollars.
Earlier in August, the CEO and president of Nortel, Mike Zafirovski had announced his resignation effective immediately.
Nortel announced on wednesday that it is planning to sell off its GSM and GSM-R (GSM for railways) assets via an open auction process due to be held on November 9, 2009. The transaction will include GSM related patents and non-exclusive licenses to other relevant patents.
Subject to approval of the bidding procedures filed with the US and Canadian courts, qualifying bidders will need to submit offers for the assets by November 5, 2009.
Earlier in September, Avaya emerged as the winning bidder for Nortel’s corporate communications unit, with an offer of close to a billion dollars.
Earlier in August, the CEO and president of Nortel, Mike Zafirovski had announced his resignation effective immediately.
