Flextronics International Ltd said on Tuesday it has withdrawn all objections to the sale of Nortel's wireless technology assets to Ericsson and resolved outstanding issues with the Swedish telecom equipment maker. Ericsson this weekend won an auction for Nortel's key CDMA and next-generation LTE wireless technologies, which Nortel put on the block after it filed for creditor protection in January.
Flextronics, Nortel's largest supplier, had objected to the proposed sale of the assets to Nokia Siemens Networks the original stalking horse bidder for the assets, citing concerns that the sale might affect its contractual rights and claims.
CDMA, or code division multiple access, is the North American wireless technology that lost the battle for global dominance but still has a strong position in some markets. LTE (long term evolution) is a new high-speed wireless technology that is intended to replace current mobile networks.
Flextronics said it will support the proposed sale of the assets to Ericsson in U.S. and Canadian courts, according to a filing in U.S. Bankruptcy Court in Delaware.
Source:
AsteriskVoIPNews
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