This week a bidding war broke out for Nortel as Apple and LG defied the recession with bumper quarters.
Investment firm MaitlinPatterson saw NSN’s €422 million offer for Nortel’s wireless assets and raised a €510 million bid. The company, representing Nortel bondholders, said it aimed to keep the vendor in one piece.
Ericsson joined the fray, reportedly putting €513 million on the table for the wireless business.
Apple enjoyed yet another bumper quarter
as iPhones and new computers flew out the door. The iPhone is still driving AT&T subscriber growth
, but the subsidies are also cutting into profits.
Microsoft’s profit declined and revenue fell
over the full fiscal year for the first time in its history.
Amazon bought Zappos
, an online shoestore and potential rival, for €568 million.
By June 30, China Mobile had sold 959,000 TD-SCDMA services, well short of its full-year target
of 10 million.
Chinese censors had to scrub the web
clean of references to Nuctech, a company formerly headed by Hu Jintao’s son Hu Haifeng which is now embroiled in a scandal in Namibia.
Beverage firm San Miguel lined up a stake
in collapsed Philippine operator Extelcom.
A US federal agency scrapped a study into the impact of cellphones on driver safety and kept secret hundreds of pages of warnings about the dangers, a former official revealed
Seacom, a 1.28Tbps cable along Africa’s eastern coast, went live
– the first optical cable to connect the continent.
And a prankster visited Verizon CEO Ivan Seidenberg with a megaphone to complain
about the carrier’s privacy policies.