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AV Antares Vision Spa

3.115
-0.015 (-0.48%)
Last Updated: 11:22:32
Delayed by 15 minutes
Share Name Share Symbol Market Type
Antares Vision Spa BIT:AV Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.015 -0.48% 3.115 3.105 3.12 3.15 3.075 3.13 79,318 11:22:32

Nortel Wins OK From Courts To Sell Enterprise Unit

16/09/2009 11:52pm

Dow Jones News


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Nortel Networks Corp. (NRTLQ) late Wednesday said Nortel Networks Ltd. and certain of its subsidiaries have obtained approvals from courts in Delaware and Ontario to sell its enterprise unit to privately held Avaya Inc. (AV).

Avaya had previously agreed to pay $900 million in cash for the unit, which makes phone systems used in offices of companies, governments and other institutions. The approval from the courts also covers Avaya's agreement to pay up to $15 million to retain key employees in the enterprise unit.

Toronto-based Nortel filed for bankruptcy earlier this year, and has been selling off key parts of its business to pay creditors.

-By Carla Mozee, 415-439-6400; AskNewswires@dowjones.com

 
 

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