Nortel Looking To Go Shopping

After spending the past year and a bit restructuring Nortel and dealing with its accounting troubles, CEO Mike Zafirovski says the company is “stable enough” to make an acquisition, according to a Reuters story. “”I am much more comfortable that we have a foundation in place right now within Nortel from an operational and financial processes standpoint,” he said during an interview, adding “we would not be gun shy from adding something to our portfolio, and actually we’re looking at some opportunities.” Mike Z.’s shopping list is focused on the enterprise, next-generation mobility and network services sectors. It would presumptuous to assume Nortel is going make a large deal given it needs to be careful about managing cash, as well as the fact the deals made during Mike Z.’s reign so far have been relatively small (e.g. $99-million for Tasman Networks).

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