Avaya's acquisition of Nortel's Enterprise Solutions business gets EU clearance

Posted on: Fri, 20 Nov 2009 10:50:00 EST


Symbols: AV
Nov 20, 2009 (M2 EQUITYBITES via COMTEX) --
AV | Quote | Chart | News | PowerRating -- The European Commission said on Thursday that it has approved the
proposed acquisition by US business communications solutions provider
Avaya Inc of the Enterprise Solutions business of Canadian telecoms
equipment maker Nortel Networks.

The Commission concluded that the USD900m transaction would not
significantly impede effective competition in the European Economic
Area (EEA).

The deal has also been approved in the US and Canada.

Nortel filed for bankruptcy protection in January.

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