Ciena agrees to buy Nortel assets for $521 million, path still open for higher bidsOctober 7th, 2009 Ciena agrees to buy some Nortel assets for $521MLINTHICUM, Md. — Ciena Corp.
Nortel's GSM business also on auction blockOctober 2nd, 2009 TORONTO - Nortel, the 124-year-old Canadian telephone equipment company that is selling its various businesses to pay off its debtors, has announced to auction its GSM (global system for mobile communication) business also. Like the previous auctions of the company's wireless business and enterprise unit, the GSM division will also be sold through "open auction", Toronto-based Nortel said in a statement here.
Canada to review Avaya purchase of Nortel assets to determine if deal benefits CanadaSeptember 24th, 2009 Canada to review Nortel-Avaya dealTORONTO — Canada's industry minister said Thursday he will review the sale of Nortel's enterprise division to U.S. telecom company Avaya to determine if the deal significantly benefits Canada.
Nortel puts carrier network business also on saleSeptember 23rd, 2009 TORONTO - The bankrupt Nortel has taken yet another step closer to fading into history by announcing auction of its carrier networks business. The decision was announced Monday.
Canada won't block Nortel sale of wireless unit to EricssonSeptember 16th, 2009 Canada won't block Nortel sale to EricssonTORONTO — Canada's industry minister says the government won't block the $1.1 billion sale of Nortel Networks' wireless division to Sweden's Ericsson. Industry Minister Tony Clement said Wednesday there is no basis for a federal review of the deal on national security grounds.
Judges in US, Canada approve bankruptcy sale of Nortel business systems unitSeptember 16th, 2009 US, Canadian judges approve Nortel bankruptcy saleWILMINGTON, Del. — Nortel Networks Inc.
Nortel Networks to sell business communications segment to Avaya for $900 millionSeptember 14th, 2009 Avaya in $900 million deal for Nortel businessNEW YORK — Nortel Networks, which has been operating under bankruptcy protection since January, has selected Avaya as the successful bidder for its segment that makes communications systems for businesses. Basking Ridge, N.J.-based Avaya Inc.
Nortel to sell its enterprise business FridaySeptember 5th, 2009 TORONTO - Toronto-based Nortel, which is selling its businesses to pay off its creditors, will auction its second biggest division next Friday. The enterprise unit that makes network equipment will be auctioned under court supervision.
Nortel CEO Mike Zafirovski steps down; board of directors to be reduced to 3 from 9August 10th, 2009 Nortel CEO Mike Zafirovski steps downTORONTO —Nortel Networks CEO Mike Zafirovski is stepping down from the troubled telecommunications company, saying a "a natural transition point" has been reached as the company proceeds with plans to liquidate. The company also announced Monday that its board of directors will be reduced to three, from nine.
Canadian media favours protectionism, wants Nortel sale cancelledJuly 30th, 2009 TORONTO - Taking protectionism and nationalism to absurd levels, the Canadian media has now joined opposition parties to pressure the government to stop sale of Nortel assets to Ericsson. The Swedish telecom major acquired Toronto-based Nortel's wireless business for $1.3 billion at a court-supervised auction in New York Friday.
Courts approve Nortel sale; Canada's opposition says stop itJuly 29th, 2009 TORONTO - Even as courts in Canada and the US Tuesday approved Ericsson's $1.13-billion bid last week to acquire the wireless business of Nortel, the 127-year-old Canadian corporate icon, political leaders here are putting pressure on the government to stop the sale. Once a world leader in telecom equipment technology, Nortel is selling all its businesses to pay back its creditors after suffering $5-billion losses last year.
Ericsson buys Nortel's wireless business for $1.13 bnJuly 25th, 2009 TORONTO - Swedish telecom major Ericsson has bought Nortel's wireless business for $1.13 billion. In a statement Saturday after Friday's court-monitored auction in New York, Ericsson said it has acquired Nortel's CDMA and futuristic long term evolution (LTE) technology.
Nortel's end begins with auction of wireless businessJuly 25th, 2009 TORONTO - The liquidation of Canada's fabled Nortel began Friday. After a troubled decade, the 127-year-old telecom equipment giant went under the hammer in New York to sell its wireless business to the highest bidder.
Ericsson also bidding for Nortel's wireless businessJuly 24th, 2009 TORONTO - Sweden's Ericsson has entered the bid to acquire the next-generation wireless business of Nortel. Toronto-based Nortel, which is selling its various divisions as part of its liquidation plan, will auction its wireless business Friday in New York.
Dying Nortel sells business to rival for $475 mnJuly 21st, 2009 TORONTO - Nortel, the once global telecom equipment giant that declared it would liquidate itself last month, has announced that it was selling its enterprise business to rival Avaya Inc. for $475 million.
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