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Nortel CEO: Sale Plans to Become Visible Soon

After appearing before Canadian lawmakers today, Nortel CEO Mike Zafirovski said his company is considering selling some of its businesses. Holding his cards close to his vest, the head of the bankrupt company told reporters that any sale plans “will become very, very visible” within a couple of weeks.

Zafirovski was under fire today from government officials and former Nortel employees in Ottawa who are angry over severance cuts and pension reductions, while some executives were raking in large bonuses.


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