As previously announced, Nortel does not expect that the Company's common shareholders or the Nortel Networks Limited preferred shareholders will receive any value from the creditor protection proceedings and expects that the proceedings will result in the cancellation of these equity interests.
Who is the 'Space Cadet' that keeps saying 'delisting' ..................we all ,know thats a posability..... IT MUST BE SOME "MAMAS - BOY PRIMADONNA" that is also highly ana1 retentive, and does what his mommy used to tell him. (no girl would be that dumb)
Nortel Networks Limited and Nortel Networks Technology Corporation (together, Nortel) have completed the sale of Nortel's Ottawa Carling Campus to Public Works and Government Services Canada (PWGSC) for a cash purchase price of CDN$208 million.
As previously announced, the sale provides that Nortel will continue to occupy parts of the Campus for varying periods of time to facilitate Nortel's continuing work on its global restructuring including work under the transition services agreements with the various buyers of Nortel's sold businesses. All other existing leases are assumed by PWGSC, including leases with buyers of Nortel's businesses. With respect to the lease with Ciena, the purchaser of the Optical Networking and Carrier Ethernet (MEN) business, Nortel, pursuant to a direction by PWGSC under the sale agreement, exercised its early termination rights under the lease, shortening the lease from 10 years to 5 years. This resulted, pursuant to a lease with Ciena, in the payment to Ciena of US$33.5 million from funds escrowed in connection with the closing of the MEN sale. Also as previously announced and reported, Nortel intends to repay to Nortel Networks Inc. from the proceeds of the Ottawa Carling Campus sale US$75 million outstanding under an intercompany loan agreem
looks like some news is due
"PROTO IS A POET THAT CAN'T GET A JOB BECAUSE YU ARE NUTZ ABOUT NORTEL, ; AND >600 POSTINGS MUST MEAN THAT YOU HAD A LOT INVESTED OR JUST LIKE TO BE A "BLOW-HARD" 'MOUTHPIECE'"
Anyone who does not believe in Nortel Recovery will go to He**
Yes Dearly beloved we are gathered here to pay hommage to the deceased, and the hapless mortals that invested in this pig in a poke-- will it rest in peace and not start up again ever !!!!