Posted on 07/25/2009 11:41:16 AM PDT by WesternCulture
TORONTO - Swedish telecom giant Ericsson won the auction for Nortel's wireless division, with a bid of US$1.13 billion, the Canadian-based company announced late Friday.
Nortel will seek Canadian and U.S. court approvals of the proposed sale agreement at a joint hearing on July 28, 2009, the financially troubled company said in a statement.
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