Angry Nortel creditors and suppliers filed objections against the ongoing deal of Nortel with Nokia Siemens Networks to sell some of its unit.
Nortel’s major bondholder, MatlinPatterson, Nortel supplier Flextronics Corp, are among those against the deal.
The bankrupt telecom equipment maker Nortel Networks has signed USD$650 million planned acquisition agreement with Nokia Siemens Networks to purchase LTE and CDMA assets.
Nortel Networks, a Toronto-based company has filed for bankruptcy protection in Canada and the United States in January saying that the economic crisis hit the company.
Existing Nokia Siemens Networks strength will become more furnish with the addition of Nortel assets, a company in the field of mobile radio access. It also adds key talent and resources to enhance the company’s existing strength and momentum in LTE.