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Nortel Networks asset sales win approval

Posted on September 17, 2009 1:30 PM
Nortel Networks Corp. received court and regulatory approvals on Wednesday that continue the breakup of the former Canadian blue-chip company.

The bankrupt Toronto telecom equipment maker issued a statement that said courts in Delaware and Ontario had approved its agreement to sell its Enterprise Solutions division to private equity-backed Avaya Inc. for $915 million.

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