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Corporate IT Update-November 23, 2009-Ciena wins auction for Nortel's Optical Networking and Carrier Ethernet businesses
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Nortel Networks Corporation (OTCBB:NRTLQ) today announced that Ciena Corporation has emerged as the winning bidder in the auction to dispose of the corporation's Optical Networking and Carrier Ethernet businesses, with a purchase price of USD530m cash plus USD239m principle amount of convertible notes.
The transaction must still be approved by...