Posted July 21st, 2009
Research In Motion said on Monday that bankrupt telecommunications company Nortel Networks had effectively prevented the BlackBerry maker from bidding for Nortel’s wireless business, reported Reuters. It continued: RIM said it was seeking to be qualified as a bidder in Nortel’s auction of its CDMA and LTE wireless technology businesses, scheduled for July 24, but was told it could be qualified only if it vowed not to submit offers for other Nortel assets for a one year. RIM said it would be prepared to pay roughly $1.1 billion for the wireless business, based on its preliminary review. Last month, Nortel announced a stalking horse deal to sell the CDMA and LTE businesses to Nokia Siemens Networks for $650 million. Details. In a related development, Nortel said it would sell its business that makes phone systems for offices to Avaya for $475 million, according to The Wall Street Journal. Details.
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