Uncertainty, economy send Nortel to $508M loss

Nortel Networks' financial picture continued to slide in the third quarter as customers remained cautious about its ongoing bankruptcy proceedings and the slowly recovering economy. Amid its ongoing asset sell-off, Nortel reported Monday that it lost more than $500 million and holds $1.8 billion in cash reserves.

Reuters | 11/16

This story published in USTelecom dailyLead® on 11/17/2009

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