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Articles tagged with: Nortel Networks
Nortel Losses Shrink on Lower Costs
Nortel Networks has reported revenues in the third quarter of US$1.05 billion, compared to US$2.3 billion a year ago. The company saw declines year over year in all segments, except Carrier VoIP and Application Solutions (CVAS), and in all regions. These revenues exclude third quarter revenues related to Equity Investees' revenues of $348 million and $353 million related to discontinued operations. more
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Airvana to get $39.6M Nortel-related payment
Airvana, which supplies products used by wireless operators, said Friday it will get a $39.6 million payment for outstanding invoices related to products and services it sold to Nortel Networks before Nortel filed for bankruptcy protection. more
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Nortel delays auction deadline for some assets
Nortel Networks says it has completed the $1.13 billion sale of its wireless network business to Ericsson of Sweden but is allowing more time for bids in an auction for its optical networking and carrier ethernet units. more
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Nortel Agrees to Sell Select Packet Core Network Components to Hitachi
Nortel Networks has announced that it had entered into an agreement with Hitachi for the sale of certain assets associated with the development of next generation packet core network components (excluding legacy packet core components for Nortel's GSM and UMTS businesses) for a purchase price of US$10 million. more
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Ciena wins court approval for Nortel unit bid
Ciena won court approval Thursday to start bidding on Nortel Network's optical and Ethernet division with an offer valued at more than $532 million. more
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Former Nortel CEO Submits Claim to Bankruptcy Court for $12 Million
Nortel's former CEO Mike Zafirovski has submitted a claim for over US$12 million from the company, with more than half going towards his company agreed pension. Zafirovski's claim, which has been filed with the U.S. bankruptcy court that's dealing with Nortel's restructuring, seeks "not less than US$12,250,543.48". more
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Nortel to Sell Optical Networking and Carrier Ethernet Businesses
Nortel Networks has continued its dismemberment with the announcement of a stalking horse" asset sale agreement with Ciena for its Networking and Carrier Ethernet businesses. The offer, which can be trumped by another bidder is for US$390 million in cash and shares in Ciena currently worth around US$131 million. more
Nortel to Sell off GSM Businesses in Open Auction
As part of its ongoing dismemberment, Nortel Networks says that it plans to sell by "open auction" substantially all of its global GSM/GSM-R business. In connection with this proposed sale, Nortel also expects to transfer specified patents predominantly used in the GSM business and grant non-exclusive licenses of other relevant patents. more
Related Tags: Canada
Canada to review Nortel-Avaya deal
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. more
Nortel plans to sell some carrier networks assets
Nortel Networks said Monday that it intends to auction off some of the company's carrier networks business assets in bankruptcy court. more
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