Sept 16 (Reuters) - Nortel Networks Corp:
* Obtains U.S. and Canadian court approvals for sale agreements with Avaya for
enterprise solutions business
* Says Avaya will fund an additional pool of $15 million for an employee
retention program
* Says sale is subject to additional court approvals in France and Israel as
well as regulatory approvals
* Says Avaya will pay an aggregate purchase price of US$900 million in cash
* Says sale close is expected late in the fourth quarter 2009
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Obtains U.S. and Canadian court approvals for sale agreements with Avaya for
enterprise solutions business
* Says Avaya will fund an additional pool of $15 million for an employee
retention program
* Says sale is subject to additional court approvals in France and Israel as
well as regulatory approvals
* Says Avaya will pay an aggregate purchase price of US$900 million in cash
* Says sale close is expected late in the fourth quarter 2009
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.