MuniWireless

After filing for bankruptcy protection earlier this month, Nortel has also decided to pull out of the mobile WiMAX market. It will still sell fixed WiMAX equipment. This should come as no surprise. Nortel failed to win the Sprint contract (losing out to Motorola). It has not managed to gain any critical mass in the 802.16e equipment market outside the United States. Nortel entered into a partnership with Alvarion in 2008 whereby the two companies had agreed to integrate Alvarion’s…

Nortel, the Canadian telecom equipment vendor, has filed for bankruptcy protection under Chapter 11 of the US Bankruptcy Code. Nortel’s shares had been trading under $1 on the NY Stock Exchange for several weeks. The NYSE threatened to delist it. Worse, it’s facing over $100 million in interest payments to bond holders this week. Telecom equipment manufacturers have suffered dramatic declines in sales this year after customers put off their purchases. It still has $2.6 billion in cash, but its…