Friday, July 24, 2009

Nortel "4G" global bidding war

Nortel_companyFirst of this year telecommunication company of Canada name is Nortel have a financial problem going to bankrupt. They have an offer to buy wireless network division of Nortel in June by Nokia Siemens Networks and it seem like it is end.

But, Many company need it too because Nortel is the owner of LTE technology (Long Term Evolution: some prople respect it to be a 4G ). MatlinPatterson Global Advisers LLC offer 725 Billion Dollar, Ericsson offer abit more at 730 Billion Dollar and 1,100 Billion Dollar offer by RIM (BlackBerry) it's shocked IT world by that highest offer.

However by some limit of law have an effect on RIM can't submit a tender. Anyway RIM CEO still interested on Nortel and they still call government for it to help Canadian company in this case. But Government of Canada have reject.

The auction will happen today (friday 24 2009).

Refference : Globe Investor


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