Posted AT 8:02 PM EST on 17/09/08
Nortel shocks market with bid to sell key unit
Nortel Networks Corp. has opted for radical surgery to save itself in the face of a sudden market downturn, saying it has begun talks to sell one of its four divisions in an effort to raise cash.
The news sent a shock wave through the market, which knocked more than 50 per cent off the valuation of the company.
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