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Voilà! Nortel Gets 3 More Months to Sell French Unit

“Thank heaven for petites faveurs.”

Nortel Networks Corp. (NT) is probably doing its best Maurice Chevalier impression today, after learning it has three more months to find a buyer for its R&D division in France.

Nortel’s French operations now have until Nov. 20 to accomplish that mission, a court ruled Thursday.

“Within this new extended mandate, we will be able to at least get a secure offer for the business,” Nortel spokeswoman Isabelle Tadmoury told Bloomberg. She said discussions are moving along with “multiple” potential buyers, but she would not name the companies.

Nortel, headquartered in Canada, filed for bankruptcy in January and is in the midst of selling its enterprise, wireless, and, likely soon, Metro Ethernet, businesses.


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