October 5, 2009 / 5:04 PM / 10 years ago

UPDATE 1-Ciena in talks to buy Nortel metro ethernet assets

 * Ciena in talks for Nortel’s Metro Ethernet assets
 * Ciena shares down 1.5 pct
 NEW YORK, Oct 5 (Reuters) - Ciena Corp CIEN.O said on Monday it is in advanced talks to buy assets in Nortel Networks Corp’s NRTLQ.PK metro Ethernet networks (MEN) business as the bankrupt telecom equipment maker tries to sell off its assets.
 Nortel filed for bankruptcy protection in January, and has chosen to sell off its assets rather than try to restructure. A deal to sell the MEN assets, which includes its optical and carrier ethernet technology, would be the latest in a series of such sales.
 The Toronto-based company has sold a group of its wireless assets to Sweden’s Ericsson (ERICb.ST) for $1.13 billion. Its enterprise business is being sold to U.S.-based Avaya Inc [AVXX.UL] for about $900 million.
 Ciena shares were down 22 cents or 1.5 percent at $14.44 on Monday afternoon on the Nasdaq.  (Reporting by Ritsuko Ando in New York and Wojtek Dabrowski in Toronto)   

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