Ericsson is planning to buy the North American wireless equipment unit of insolvent Nortel Networks for $1.13 billion. The purchase will be on a cashand debt-free basis and will cover the CDMA and long term evolution wireless businesses of Nortel’s Carrier Networks unit. In January 2009, Nortel had sought bankruptcy protection and the auction was planned by the company to liquidate its business. The deal is yet to be approved by the relevant authorities.
