Nortel Network News

Ciena Corp was cleared to acquire a unit of bankrupt Nortel Networks Inc. for $769 million U.S. after fighting off a legal challenge by Nokia Siemens Networks.

Cisco Systems Inc. has given shareholders of Norwegian videoconferencing vendor Tandberg SA about two more days to accept its US$3.4 billion buyout offer.

Ciena Corp. chief executive Gary Smith is singing the praises of the Nortel Networks optical networking division that he's trying to buy for $769 million U.S. in cash and debt.

There may be good reasons why Nortel Networks Corp. is handing out salary hikes and bonuses this year, but it will be hard pressed to justify it to former employees fighting for severance packages or pensions.

The bankruptcy of Nortel Networks Corp. is sparking political pressure in Canada to protect the pensions of employees in bankrupt companies.

The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors.

Technology giant Nortel has been selling off its units since falling under bankruptcy protection in January.

An Ontario court on Thursday dismissed an appeal by the union representing former Nortel Networks Corp.

The fire sale of Nortel Networks operations hit a new low Wednesday when a wireless division was sold for less than 10 per cent of annual sales.

Telecommunications equipment maker Ciena won an auction to acquire a division of Nortel Networks that develops equipment for transmitting data and voice traffic for about $769 million in cash and stock.

Nortel Networks Corporation announced that it, its principal operating subsidiary Nortel Networks Limited , and certain of its other subsidiaries, including Nortel Networks Inc., Nortel Networks UK Limited , and Nortel Networks SA have concluded a successful auction of substantially all of the global assets of Nortel's GSM/GSM-R business.

About Nortel For more information, visit Nortel on the Web at www.nortel.com : . For the latest Nortel news, visit www.nortel.com : /news. Certain statements in this press release may contain words such as "could", "expects", "may", "should", "will", "anticipates", "believes", "intends", "estimates", "targets", "plans", "envisions", "seeks" and ...

After upping its initial bid to $769 million, Ciena comes away a winner. Sean Michael Kerner : At the core of the Internet's infrastructure are optical networking and carrier Ethernet technologies that provide bandwidth and connectivity.

Nortel Networks Corporation announced today that it, its principal operating subsidiary Nortel Networks Limited, and certain of its other subsidiaries including Nortel Networks Inc., have completed the sale of substantially all of Nortel's CDMA Business and LTE Access assets to Telefonaktiebolaget LM Ericsson for a purchase price of US$1.13 ...

The auction for Nortel Network's optical networking and carrier ethernet business went into a second day on Saturday, after Ciena called for a break in the auction late on Friday, two sources said.

Nokia Siemens Networks and private equity firm One Equity Partners have jointly bid for Nortel Networks Corpa s optical networking and carrier ethernet business, a person familiar with the sale said on Wednesday, challenging Ciena Corpa s US$526-million bid for the assets.

Nortel Networks Corp. , the bankrupt Canadian phone-equipment maker, said it will hold an auction for its optical-networking business after a second bidder offered to buy the unit.

Nokia Siemens Networks and private equity firm One Equity Partners have jointly bid for Nortel Networks Corp's optical networking and carrier ethernet business, a person familiar with the sale said on Wednesday, challenging Ciena Corp's $526 million bid for the assets.

Nortel Networks said Monday that sales fell 24 per cent in the third quarter as the recession and bankruptcy actions drove away customers.

North America has become Ericsson's largest sales region and its second-largest employment region with the just completed acquisition of Nortel Networks assets and the recent outsourcing win from Sprint Nextel Corp.