Only Nortel would come out with a double-shot of news on the week between Christmas and New Year. Earlier this week, it acquired Tasman Networks for $99.5-million to build a presence in the corporate router market. Today, it announces the sale of a 24% stake in Volt Delta for $56.4-million. Nortel picked up the equity position last year after “contributing” some assets and liabilities of its directory and operator service business to Volta Delta. If anything, this deal and the series of senior management changes suggest Nortel CEO Mike Zafirovski is busy cleaning house as he prepares to overhaul the company strategically and operationally.
Nortel Sells Volt Delta Stake