Nortel delays GSM auction, receives approval for packet core assets sale

TORONTO – Nortel Networks has pushed back the auction date for the sale of its global system for mobile communications business by a little over a week.The new auction date is scheduled for November 20, 2009, and qualified bidders must submit offers by November 16.Nortel announced earlier this month that it plans to sell substantially all of its global GSM/GSM-R business by ‘open auction’, including the transfer of specified patents predominantly used in the GSM business and granting of non-exclusive licenses of other relevant patents.The company also announced that it received court approval to sell certain assets associated with the development...