Tom Sweeney

It's a coming of age tale….

Nortel stocks jump up 80%…

Posted by sweens on March 27, 2009

Shares in Nortel grew by over 80% yesterday as the sale of Nortel’s data-switching division was approved for sale to Israel’s Radware for $17.7 million. While the deal is not finalized, the motion to approve the sale was approved in a U.S. bankruptcy court yesterday. Nortel had originally planned to put the division up for auction on March 23rd but was forced to cancel as it did not receive any additional bids.

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