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Ericsson: Well Close Nortel Wireless Deal Soon

A senior Ericsson exec says his company plans to close its purchase of Nortel Networks’ wireless assets very soon.

Ericsson CTO Hakan Eriksson, who will be taking over the company’s Silicon Valley operations in January, told Reuters that there’s very little getting in the way of closing the acquisition. The companies recently pushed their closing deadline to the end of November, but now it seems it won’t take that long.

The U.S. Justice Department still needs to give its final approval. Ericsson will have a 50 percent market share in wireless market share in North America when the deal is officially done. The company is paying bankrupt Nortel more than $1.1 billion for the assets.


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