Electronics Production |
Flextronics and Ericsson to settle Nortel issue
Flextronics International Ltd has withdrawn all objections to the sale of bankrupt Nortel's North American CDMA and LTE wireless technology assets to Swedish telecom maker Ericsson.
Flextronics was the largest supplier to Nortel. Flextronics earlier objected a proposed sale of the Nortel assets to Nokia Siemens Networks, which initially placed a bid for the assets. Flextronics was concerned that the sale might affect its contractual rights and claims, according to a Reuters report Tuesday.
Ericsson announced last weekend that it takes over Nortel's CDMA and LTE assets. Therefore Flextronics has now resolved all its outstanding issues with Ericsson, the Reuters report said. Ericsson and Flextronics will negotiate a new agreement, when Ericsson has closed the Nortel acquisition.
