03:39 PM EST - Nortel Networks Corp. : announced that it, its principal operating subsidiary Nortel Networks Limited or NNL and certain of its other subsidiaries, including Nortel Networks Inc. and Nortel Networks UK Limited, have entered into a "stalking horse" asset and share sale agreement with Avaya Inc. (Avaya) for its North American, Caribbean and Latin America or CALA and Asia Enterprise Solutions business; and an asset sale agreement with Avaya for the Europe, Middle East and Africa or EMEA portion of its Enterprise Solutions business for a purchase price of $475 million U.S. These agreements include the planned sale of substantially all of the assets of the Enterprise Solutions business globally as well as the shares of Nortel Government Solutions Incorporated and DiamondWare, Ltd. Nortel Networks Corp.
shares NRTLQ are trading down $0.002 at $0.06.
