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.
Ciena offers $521 million for Nortel business units, path open to higher bidsOctober 7th, 2009 Ciena bids $521M for Nortel business unitsTORONTO — Ciena Corp. is offering cash and stock worth $521 million to acquire some of Nortel's most-prized remaining business units as the fallen telecommunications company continues to liquidate.
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.
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.
Bankruptcy judge rejects Verizon objection to sale of Nortel business systems unitSeptember 16th, 2009 Nortel bankruptcy judge denies Verizon objectionWILMINGTON, Del. — The judge presiding over the Nortel Networks bankruptcy has ruled against an objection by Verizon Communications Inc.
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.
Research In Motion hangs tough on Nortel Networks wireless bid, says fight for assets not overJuly 22nd, 2009 RIM hangs tough on bid for Nortel wireless assetsTORONTO — Communication industry analysts say Research In Motion is refusing to budge in its pursuit of Nortel Networks' wireless business because its key technology patents could help secure RIM's future as a mobile phone technology leader. Veritas Investment Research Corp.
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.
Nortel seeks court nod for bonuses to top honchosMarch 20th, 2009 TORONTO - Even as the US House Thursday passed a bill to heavily tax bonuses for executives of companies bailed out with government money, global telecom giant Nortel is seeking court approval for its bonus plans. The company, which was granted bankruptcy protection in Canada and the US in January, will move court here Friday for permission for its $23-million bonus plan for top executives.
Nortel cuts 3,200 more jobsFebruary 26th, 2009 TORONTO - Toronto-based telephone equipment maker Nortel Networks Corp, which filed for bankruptcy protection in January, is axing 3,200 positions worldwide. The world leader in telecom has already announced the axing of 1,800 staff as it tries to climb out of bankruptcy protection granted in the US and Canada two months ago.
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