Nortel Selects Ciena as Successful Bidder for Optical Networking and Carrier Ethernet Businesses

Focus: IT/Enterprise

Nortel Selects Ciena as Successful Bidder for Optical Networking and Carrier Ethernet Businesses
- Ciena emerges as winning bidder with a purchase price of US$530 million in cash plus US$239 million principal amount of convertible notes- A minimum of 2,000 Nortel employees will be offered the opportunity to continue their work at Ciena- U.S. and Cana By marketwire TORONTO, ONTARIO -- (Marketwire) -- 11/23/09 -- Nortel(1) Networks Corporation (OTCBB: NRTLQ) announced that it, its principal operating subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries, including Nortel Networks Inc. and Nortel Networks UK Limited (in administration), have concluded a successful auction of substantially all of the assets of Nortel's global.....


	Submission Date: November 23, 2009 Submitted By: marketwire marketwire Number of Views: 36 Email This Article to a Friend	Related Stories: More Related Stories