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UPDATE 1-Sony Ericsson, Alcatel eye LG-Nortel stake-report
September 2, 2009 / 8:00 AM / 8 years ago

UPDATE 1-Sony Ericsson, Alcatel eye LG-Nortel stake-report

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SEOUL, Sept 2 (Reuters) - Sony Ericsson, Alcatel Lucent SA ALUA.PA and a private equity arm of JP Morgan (JPM.N) are among the candidates shortlisted to buy Nortel Networks Corp’s NRTLQ.PK stake in LG-Nortel, media reported on Wednesday.

South Korean online news eDaily said citing an unnamed banking source that four companies had made it to the shortlist, from an initial field of eight.

JP Morgan’s One Equity Partners and Korean investment firm SkyLake Incuvest joined industry players -- mobile phone maker Sony Ericsson (6758.T) (ERICb.ST) and telecoms equipment supplier Alcatel-Lucent -- on the list, according to eDaily.

Goldman Sachs, which was hired to help with the sale, declined to comment.

Sony Ericsson could not be immediately reached for comment.

Nortel, once North America’s biggest maker of telephone gear, filed for bankruptcy protection in January and is looking for a buyer for its 50 percent plus one share in LG-Nortel, a joint venture with South Korea’s LG Electronics Inc (066570.KS).

LG Electronics reiterated on Wednesday that it remained committed to maintaining its strategic investor status in LG-Nortel, which Nortel said previously was profitable and had not filed for creditor protection. (Reporting by Rhee So-eui and Marie-France Han; Editing by Jonathan Hopfner)

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