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Nortel starts asset sales
Posted: 24-Jul-2009 [Source: Yahoo/Reuters]

[Nortel is selling key technology assets in an auction today.]

Pav Jordan in Toronto -- "Nortel Networks Corp, a former Canadian icon with roots going back to World War One, starts selling key assets on Friday in an auction that has already polarized opinion and sometimes reads like a soap opera."

"First on the block are Nortel's prized CDMA and LTE wireless technology assets, the latter of which includes technology coveted by the world's leading telecom-equipment makers."


"In its heyday, Nortel was the most heavily weighted stock on the Toronto Stock Exchange, with a market capitalization of more than $250 billion. It filed for bankruptcy protection in January after years of job cuts, cost-cutting and restatements of its financial results."


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