Nortel is coming to the table for yet another bankruptcy protection handout.
tax bill
A company statement said that the extension it filed would provide it the necessary time to “file a plan of reorganization and solicit support for such a plan.”
Seeking Alpha
article
Ericsson
made
Such a theory that Nortel needs the extra time to sell more of its units is not completely off base. Reports have emerged that there are a number of potential interested bidders for Nortel's profitable Metro Ethernet Networks (MEN) and its carrier VoIP units.
Financial Post
reported
potential bidder
believes
Then there's the MEN business, which has attracted other potential suitors such as Ciena, Ericsson and NSN.
For more:
- here's the Seeking Alphaarticle
.