Airvana (AIRV) Comments on Proposed Sale of Nortel's (NT) CDMA Business
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Airvana, Inc. (NASDAQ: AIRV) commented on Nortel Networks Corporation's (OTC: NRTLQ) announced proposed "stalking horse" asset sale of Nortel's CDMA business to Nokia Siemens Networks B.V., a global wireless network infrastructure provider.
"Nortel's proposed sale of its CDMA business is positive news for Airvana and for Nortel's customers," said President and Chief Executive Officer Randy Battat. "As a long-term partner and key supplier to Nortel, Airvana has played a vital role in serving the needs of these customers during the bankruptcy process.
Since Nortel's Chapter 11 bankruptcy protection filing on January 14, 2009, Airvana has been collecting receivables from Nortel in the ordinary course of business related to products and services purchased subsequent to that date."
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