Canada will wait on Nortel court ruling -minister

TORONTO, July 28 | Tue Jul 28, 2009 1:18pm EDT

TORONTO, July 28 (Reuters) - Canadian Industry Minister Tony Clement reiterated on Tuesday that he will wait for the courts to first give their ruling on the sale of Nortel Networks' (NRTLQ.PK) wireless assets before he decides if the government will intervene in the deal.

Swedish telecom group Ericsson (ERICb.ST) won the auction to buy Nortel's CDMA and next-generation LTE wireless technology assets with a $1.13 billion bid. Courts in Canada and the U.S. began hearings regarding the sale on Tuesday afternoon. (Reporting by Wojtek Dabrowski; editing by Peter Galloway)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.