Nortel Networks Corp. (NT) said Wednesday it’s looking for someone to buy its majority stake in the LG-Nortel partnership.
The joint venture operates under the Nortel Networks Ltd. subsidiary and, according to Nortel, “is a profitable, standalone business … and has not filed for creditor protection.”
Nortel’s parent company filed bankruptcy in January.
LG Electronics and Nortel combined forces in November 2005 to develop and sell WiMAX products. LG and certain courts in Canada must approve any proposed sale. Goldman Sachs will help with the divestiture process.
Nortel said in its press release it’s seeking “to secure a sound future for the LG-Nortel business, its valued customers and loyal employees.”
What led to @MNJTechnologies winning over a customer from a major carrier? It wasn't just cost. goo.gl/fb/Zt3swJ
February 19 2019 @ 23:50:48 UTC
.@PaloAltoNtwks acquiring @demistoinc in $560 million deal. #cybersecurity goo.gl/fb/JNAueT
February 19 2019 @ 23:36:20 UTC
.@Windstream facing tough financial decisions after court defeat. #bankruptcy goo.gl/fb/yGDkpZ
February 19 2019 @ 21:25:30 UTC
.@jenneinc rolls out new #cloud commissions dashboard for cloud partners. goo.gl/fb/jmF5kh
February 19 2019 @ 20:32:09 UTC
Scroll through the gallery for the latest updates in the #channel --> bit.ly/2tjkmJF
February 19 2019 @ 16:53:02 UTC
#CoffeeWithCraigAndKevin welcome @S1Xaa and @ChoiceIoT to the #podcast. goo.gl/fb/rNZbXd
February 19 2019 @ 14:54:30 UTC
Channel happenings galore at @ComcastBusiness @alticeb2b_usa @SpectrumEntUS @Mediacom_Biz goo.gl/fb/J8mBzw
February 18 2019 @ 13:49:23 UTC
.@CatoNetworks and @symantec made the news this week. So did @ATTBusiness. goo.gl/fb/yPWRMa
February 15 2019 @ 20:08:03 UTC