Nortel, Motorola eye wireless deal
Written on February 11, 2008
Nortel Networks and Motorola Inc. are reported to be discussing a combination of their wireless network infrastructure divisions into a joint venture.
The Wall Street Journal, citing people familiar with the situation, said the proposed move would be the latest response to slowing growth in the telecommunications equipment industry.
The reported talks, separate from a possible Motorola divestment of its handset division, would be part of a restructuring effort by Greg Brown, promoted in November to become CEO of the American telecom-gear giant effective Jan instant payday loan. 1.
If consummated, the Nortel-Motorola joint venture (TSX: NT) would likely have annual sales of about US$10 billion.
Nortel chief executive officer Mike Zafirovski was Motorola's president and chief operating officer before taking over as head of the Canadian-based company in November 2005.
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