Ciena In Talks To Buy Nortel Assets

LINTHICUM, Md. (AP) -- Ciena Corp. said Monday it is in advanced talks to buy the optical networking and carrier Ethernet assets of Nortel Networks' metro Ethernet networks business.

Toronto-based Nortel filed for bankruptcy protection in Canada and the U.S. in January.

Ciena, which is a telecommunications and network equipment company, said that any agreements made with Nortel would be subject to a competitive bidding process under the United States Bankruptcy Code and the Canadian Companies' Creditors Arrangement Act.

Ciena shares fell 26 cents to $14.40.

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