FTC OK Nokia Siemens and Nortel Deal

Following our news towards the end of June, it now seems that Nokia are one step closer to acquiring Nortel’s CDMA and LTE assets. The last we heard Nokia had hit a brick wall with their deal with Nortel as creditors and suppliers were objecting the deal.

According to InformationWeek news has emerged stating that the Federal Trade Commission have now approved the deal, therefore it is now in Nortel’s hands. Currently Nortel’s Creditors MatlinPatterson who hold Nortel bond and Flextronics, one of Nortel’s suppliers are still contesting the deal.

As more details emerge we will keep you posted, check out InformationWeek for an in-depth look.