Nortel to auction GSM business on Nov 9

By A Bisht

Nortel Networks Corp, once Canada's most valuable company, now a bankrupt telecom equipment maker; plans to sell its global GSM business.

GSM -- which stands for Global System for Mobile communications -- is the most popular wireless technology standard for mobile phones in the world.

Nortel will also sell its GSM-R business, a technology used by railways.

The sale will take place through open an auction.
If the company gets the clearance from US and Canadian courts, then Bids are to be submitted by November 5, followed by an open auction November 9. --------