Report: Nortel close to enterprise unit sale

Nortel Networks, which confirmed it is pursuing a break-up, is near to making a deal to sell its enterprise business unit, according to the Toronto Global and Mail.

Avaya is described as the most likely buyer for the unit in what could be a $500 million deal, though other bidders have emerged. Meanwhile, the Globe and Mail reports that Nortel's metro Ethernet unit has drawn interest from as many as nine potential buyers. That unit could be worth about $750 million.

For more:
- The Globe and Mail has this report

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Nortel said recently it is headed for a break-up