Short Squeeze Cover Days

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Nortel Gets 3 Offers For Unit; Mulls Alternatives -ReportLast update: 12/23/2008 8:23:13 AMDOW JONES NEWSWIRES Nortel Networks Corp. (NT) has received three offers worth nearly U.S. $1 billion for its Metro Ethernet unit, close to analysts' original estimates, The Globe & Mail reported Tuesday, without citing sources. Nortel, however, is still trying to determine whether its best route to profitability would be to sell more of the company. Three other companies have expressed an interest in buying all of Nortel, but none has floated a price, and valuations for the whole company appear more volatile than for the Ethernet unit. The company is also considering selling its carrier networks and its enterprise divisions. The company has also held discussions with both the Department of Finance and Industry Canada about assistance. Full story at http://business.theglobeandmail.com/servlet/story/RTGAM.20081222.wrnortel1223/BNStory/Business/home -Dow Jones Newswires; 201-938-5500 (END) Dow Jones NewswiresDecember 23, 2008 08:23 ET (13:23 GMT)