LG venture


Reports: Nortel To Sell LG Stake to Ericsson

Nortel Networks Corp. reportedly is ready to sell its stake in the venture with LG Electronics Inc. (LGERF.PK) to Ericsson (ERIC). The LG venture is not part of bankrupt Nortel’s creditor protection proceedings, Nortel said last year. But selling its 50-percent-plus-one-share stake will help raise money to pay back creditors. The joint venture’s sales dropped 24 percent […]

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