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Nokia Siemens In Deal To Buy Nortel Wireless Units
HELSINKI (AP) Nokia Siemens Networks said Saturday it will buy the wireless operations of Canadian-based Nortel Networks in a $650 million (euro465 million) deal to strengthen its position in North American markets.
The Finnish-German joint venture said it will purchase the LTE and CDMA assets of Nortel, a former telecom equipment giant now operating under bankruptcy protection.
CDMA, or code division multiple access, is a rival standard to the dominant cellular standard GSM, or global system for mobile, while Long Term Evolution, or LTE, is a next-generation wireless network technology. ...
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