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I wonder what the 2 'breaking announcements' are. I won`t be in town at that time, and probably won`t hear about it til I get back.
Ok thanks, I didn`t see that before.
Yes it does. re read the 3rd paragraph
TORONTO, ONTARIO--(Marketwire - 03/19/10) - Nortel(1) Networks Corporation (OTC.BB:NRTLQ - News) announced today that it, its principal operating subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries including Nortel Networks Inc. and Nortel Networks UK Limited have completed the sale of substantially all of the assets of Nortel's Optical Networking and Carrier Ethernet businesses to Ciena Corporation (Ciena). Ciena has elected, as permitted by the terms of the sale agreement, to replace the US$239 million principal amount of convertible notes with cash consideration of US$244 million, and thus pay an all cash purchase price of approximately US$774 million, subject to a working capital adjustment currently estimated as a downward adjustment of approximately US$62 million. Under the terms of the sale, Nortel will provide certain transitional services to Ciena.
"This successful divestiture of another large-scale business illustrates the significant progress on Nortel's plan to preserve both our technology innovation and rich base of skilled employees, while obtaining significant value through the sale of our businesses," said Pavi Binning, Chief Restructuring Officer, Nortel. "The sale of our Optical and Carrier Ethernet businesses to Ciena enables customers to continue to benefit from Nortel's rich heritage of innovation in optical networking. It also provides a path forward for 2,000 skilled employees who will now take their expertise to Ciena."
As previously announced, Nortel does not expect that the Company's common shareholders or the NNL preferred shareholders will receive any value from the creditor protection proceedings and expects that the proceedings will result in the cancellation of these equity interests.
Management Changes
With the sale of the Company's main businesses and the focus of Nortel Business Services (NBS) and Nortel's Corporate Group on the remaining work previously announced on February 11th, Pavi Binning, Chief Restructuring Officer, Chief Financial Officer and Executive Vice President, and the Board of Directors, have jointly determined that it is an appropriate point for Mr Binning to step down from his position and to depart from the Company. Effective March 21, 2010, Pavi will step down from his role as CRO, CFO and EVP and for a short period thereafter, Mr Binning will stay on with the Company to assist in the completion of the announced business sales and in the transition of certain of his responsibilities. Effective March 22, 2010, John Doolittle will assume the role of Chief Financial Officer of the Company and Nortel Networks Limited in addition to his current responsibilities leading the Corporate Group. In light of the milestones met to date and the focus of the remaining work, the position of CRO will not be filled.
It`s in todays press release
it says 'expects that the proceedings will result in the cancellation of these equity interests. '
It says commons are to be cancelled
doesn't it say the commons will be cancelled?
TORONTO, ONTARIO--(Marketwire - 03/19/10) - Nortel(1) Networks Corporation (OTC.BB:NRTLQ - News) announced today that it, its principal operating subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries including Nortel Networks Inc. and Nortel Networks UK Limited have completed the sale of substantially all of the assets of Nortel's Optical Networking and Carrier Ethernet businesses to Ciena Corporation (Ciena). Ciena has elected, as permitted by the terms of the sale agreement, to replace the US$239 million principal amount of convertible notes with cash consideration of US$244 million, and thus pay an all cash purchase price of approximately US$774 million, subject to a working capital adjustment currently estimated as a downward adjustment of approximately US$62 million. Under the terms of the sale, Nortel will provide certain transitional services to Ciena.
"This successful divestiture of another large-scale business illustrates the significant progress on Nortel's plan to preserve both our technology innovation and rich base of skilled employees, while obtaining significant value through the sale of our businesses," said Pavi Binning, Chief Restructuring Officer, Nortel. "The sale of our Optical and Carrier Ethernet businesses to Ciena enables customers to continue to benefit from Nortel's rich heritage of innovation in optical networking. It also provides a path forward for 2,000 skilled employees who will now take their expertise to Ciena."
As previously announced, Nortel does not expect that the Company's common shareholders or the NNL preferred shareholders will receive any value from the creditor protection proceedings and expects that the proceedings will result in the cancellation of these equity interests.
Management Changes
With the sale of the Company's main businesses and the focus of Nortel Business Services (NBS) and Nortel's Corporate Group on the remaining work previously announced on February 11th, Pavi Binning, Chief Restructuring Officer, Chief Financial Officer and Executive Vice President, and the Board of Directors, have jointly determined that it is an appropriate point for Mr Binning to step down from his position and to depart from the Company. Effective March 21, 2010, Pavi will step down from his role as CRO, CFO and EVP and for a short period thereafter, Mr Binning will stay on with the Company to assist in the completion of the announced business sales and in the transition of certain of his responsibilities. Effective March 22, 2010, John Doolittle will assume the role of Chief Financial Officer of the Company and Nortel Networks Limited in addition to his current responsibilities leading the Corporate Group. In light of the milestones met to date and the focus of the remaining work, the position of CRO will not be filled.
Have any SOLID proof for that comment? I think you might want to do some dd as well and the updates.
http://uchub.blogspot.com/
http://www.uchub.net
What news?
Kerx is down, but not Aeterna. It hasn`t really been trading the same way, considering they have a venture together.
radar AEZS . POWN has legs but tripped and sprained an anckle...nothing serious.
The sets were not paid by uchub....that`s the nice part of it.
Hopefully revenue will be announced soon. Gotta admit the sets look nice.
Studios looking good. Keep your eyes open.
AEMD.ob NRTLQ.pk(lotto) UCHB.pk-expect news soon POWN.pk(still has legs)
Sure they do, pinkers rm into bb's.
I didn`t hear about a bb listing.Did I miss something? A rm into a bb would be nice.
....and it still has legs.Keeping an eye on others too
I re-read the release. I guess our nrtlq isn`t the one being delisted or cancelled.
Tomorrow at open should tell up which direction it will be headed.
More to come if the shares won`t be cancelled.
No, Let`s say any project brings in 100mil$$, then use a multiple of only 5....the pps would then be above 4$ .
Very attainable.
If it hits 1.50 I buy everyone a beer....it hits 10$ I buy the brewery.lol
POWN still has legs.
Every so often I’ll tackle questions, but till then—there’s Saturday’s Seattle Con, new comics to create and a nation to build! Excelsior!
Wow! New comics
How important is the Seattle Con. ????
You think that is what the April announcement is all about?
WELL ..HE SAID IT! Stan mentioned a movie ...'absulutely' was his word. He mentions there will be a huge one and 2 other projects.
Radar OPTZ SGTB and UCHB on news
I am still trying to figure out what the news can be, but haven`t found any clues.
No, but nice attempt. Sit tight and watch
I wonder what he means.
That would be the best dd, the written facts. But then again any smart person will do their dd the way it is supposed to. I have not seen any pumping here, only what seems to be the oposite.
Just keep your eyes open on this.
Cheers , and gl !
Please provide link or proof.
AND WRONG AGAIN.If you notice those blogs are made up and contain viruses that are detected by Mcafee. People will know once they call the company 800-278-8870 about all the reports and new names and contacts. I am sure some of you already know .
Cheers!
NO. FAKE BLOGS USUALLY CONTAIN VIRUSES. The facts are calling the toll free number and asking to have hard facts forwarded is the best thing anyone can do.
Looking stronger with rumor of new product launch for April or May
1$...then 2.50 $$$ ...hmmm That would be lovely
Wilcox can be trusted, many in the industry are....just watch. Sit tight my good man.
So you agree the best site is the company`s site , as you just stated.