BELGRADE, Serbia-Nortel Networks Ltd. said it is working on a joint venture with advisory firm Southeast European Communications and Investments Inc. to help the Canadian vendor gain a foothold in Southeast European markets.
Nortel said it expects to finalize the joint venture agreement early next year and plans to call the new company Nortel SE.
“Southeastern Europe is a rapidly growing region of opportunity for Nortel which is why we are increasing our presence here,” said Sorin Lupu, head of Nortel’s Eastern European Markets. “Carriers and enterprises in Southeast Europe are transforming themselves in order to meet the growing need for anywhere, anytime communications. With a move towards 4G happening, and with WiMAX licenses to be granted or implemented in almost all countries in southeast Europe, this new JV will help Nortel address new market opportunities and deliver improved support for existing customers.”
