Report: Ericsson-Nortel deal close to done
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RESEARCH TRIANGLE PARK, N.C. — The Reuters news agency reported Friday that Swedish telecom equipment maker Ericsson said it expects to close its $1.1 billion acquisition of bankrupt Nortel's wireless division very soon.
"We don't expect to see any hiccups. I think it will be closed very soon," Ericsson chief technology office Hakan Eriksson told Reuters, according to a report from Finland.
Last week, Nortel said the two firms had pushed the deadline for closing the deal to the end of November to allow more time to satisfy closing conditions, including regulatory approvals.
The U.S. Department of Justice is still reviewing the deal, which would raise Ericsson's market share in wireless network equipment in North America to about 50 percent. Canada decided in September against launching a review of the deal.
Copyright 2012 WRAL Tech Wire. All rights reserved.
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