Bankrupt Nortel Sells Turkish Business Unit

Bankrupt Nortel Networks has sold its Turkish business unit, one of the vendors last remaining assets.

OEP Rhea Turkey, comprised of One Equity Partners and Turkish venture capital company Rhea Girisim Sermayesi Yatirim Ortakligi AS, paid $83.7 million for a 53.13 percent stake in the infrastructure provider. Nortel Networks International Finance and Holding BV owns the remainder.

The sale comes about three weeks after Ericsson bought the multi-service switch branch of Nortel for $65 million.

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