Posted AT 12:16 PM EST on 28/10/09
Nortel gains approval for asset sale to Hitachi
Toronto — Nortel Networks Corp. has received a green light from Canadian bankruptcy courts on the sale of its next-generation packet core network component assets to Japanese electronics manufacturer Hitachi Ltd. for $10-million (U.S.).A lawyer for the insolvent telecom equipment maker confirmed in an e-mail Wednesday morning that the deal was approved without any changes by a bankruptcy court judge in Ontario.
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