Nortel makes progress on sell-offs, faces $3B tax trial

09/30/2009 | Reuters · Bloomberg · Total Telecom Magazine (U.K.)

U.S. and Canadian courts signed off on Nortel Networks' plan to sell its next-generation packet core networks business, with Oct. 16 set as the bidding deadline for a unit that has yet to attract any customers. The bankrupt equipment maker also said it would sell its global GSM business, with offers due Nov. 5 for a Nov. 9 auction. Also Wednesday, a federal Bankruptcy Court judge ruled that Nortel and U.S. tax officials will square off in court Oct. 13 over a $3 billion IRS tax claim.

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Reuters · Bloomberg · Total Telecom Magazine (U.K.)

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