Posted on 04/07/09
Telecom titans in a brave new mobile world
TELECOM REPORTERIt's a paradox: The world is rushing to embrace mobile communications, but some of the biggest suppliers of telecommunications equipment are struggling to stay ahead.For Nortel Networks Corp., survival is no longer even an issue. The company has agreed to sell its lucrative wireless business for $650-million (U.S.) to Nokia Siemens Networks, and is in late-stage negotiations to sell its corporate networks unit to another firm, most likely Avaya Inc. In the months ahead, a group of several dozen executives, lawyers and accountants will preside over a transition services group to dispose of Nortel's last asset. Creditors will be left to fight over the financial remains.
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