Nortel Networks Corp. (NRTLQ.PK) said that its principal operating subsidiary Nortel Networks Ltd. and Nortel Networks Inc. have extended the closing date of asset sale with Telefonaktiebolaget LM Ericsson.
Under the amendment, Nortel and Ericsson have extended to November 30, the date by which to close the sale. The parties expect to close the sale prior to such date.
The parties agreed to the extension in order to allow more time for the satisfaction of closing conditions, including regulatory approvals.
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