Cornerstone News

News Articles from August 2012

  • Last Act In Nortel Saga Coming To A Close

    According to the Canadian Press news service,  insolvent Nortel Networks Corp. says it has sold all of its businesses and remaining patents, generating proceeds of US$7.8 billion and is working to wrap up the creditor protection process. The now defunct telecom company, which reports in U.S. dollars, said as of the second quarter ended June 30, it had $688 million in cash, plus a restricted cash balance of $7.6 billion consisting mainly of proceeds from its divestment's....

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