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Nortel Completes Sale of Multi Service Switch Business to Ericsson |
March 11, 2011
TORONTO, ONTARIO--(Marketwire - March 11, 2011) - Nortel* 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 completed the sale of substantially all of the assets of Nortel's Multi Service Switch (MSS) businesses globally to Telefonaktiebolaget LM Ericsson ("Ericsson") for a cash purchase price of US$65 million subject to working capital and other adjustments.
Link: http://www.marketwire.com/mw/release.do?id=1410235&sourceType=3
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