Subject:  Nortel Networks Announced Implementation Of Share Consolidation [NT] |
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Date Posted: 11:35:07 12/01/06 Fri
NT -- Nortel Networks Corp. (Holding Co.)
Com (No Par)(New)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
WorldTradeStocks.com: Nortel Networks Announced Implementation Of Share Consolidation [NT]
Dec 01, 2006 (M2 PRESSWIRE via COMTEX) -- Nortel Networks Announced Implementation Of Share Consolidation [NT]
12/1/2006 (NEW YORK) WORLDTRADESTOCKS.COM Friday, Nortel Networks Corp. (NYSE:NT) (NT, NT.TO) announced the implementation of previously announced consolidation of its issued and outstanding common shares. The consolidation was implemented with a ratio of one consolidated share for every ten pre-consolidation shares. According to the company, the consolidation has reduced the number of shares outstanding to approximately 433 million from approximately 4.3 billion.
The consolidation of Nortel Networks Corp. common stock (NYSE:NT)(TSX:NT) took effect Friday, cutting the communications equipment maker's share count to 433 million from 4.3 billion.
The one-for-10 consolidation had been confirmed by the board on Nov. 6 after being approved by shareholders at the annual meeting in June.
Nortel also said that its common shares, listed on the New York Stock Exchange and the Toronto Stock Exchange would begin trading on a consolidated basis when these Exchanges open today.
About Nortel
Nortel is a recognized leader in delivering communications capabilities that enhance the human experience, ignite and power global commerce, and secure and protect the world's most critical information. Our next-generation technologies, for both service providers and enterprises, span access and core networks, support multimedia and business-critical applications, and help eliminate today's barriers to efficiency, speed and performance by simplifying networks and connecting people with information. Nortel does business in more than 150 countries. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.
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As of Monday, 11-27-2006 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated a DOWNTREND on 11-08-2006 for NT @ $2.04.
For more information on Comtex SmarTrend? Alert, contact your market data provider or go to www.CSTADirect.com
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