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Publication Date: December 2005
Pyramid Research has formed a strategic partnership with ITI Research to provide you with high-quality Telecom Company Reports of industry players worldwide. For more details view our press release here .
Comprehensive reports on leading telecommunications operators worldwide covering all aspects of their operations. Includes quarterly-updated Executive Briefings on over 100 operators, supplemented by detailed Premium reports on over 50 of the leading global operators.
Nortel Networks was originally known as the Northern Electric Company and was established in 1914. In 1999, the company changed its name to Northern Networks Corporation and in May 2000, renamed itself Nortel Networks Limited. On May 1, 2000, the company participated in a Canadian court-approved plan of arrangement with Nortel Networks Limited and BCE Inc, the largest shareholder of Nortel Networks Limited prior to the plan of arrangement. In connection with the plan of arrangement on May 1, 2000:
- the company changed its name to Nortel Networks Corporation;
- the holders of the outstanding publicly-traded common shares of Nortel Networks Limited became common
shareholders of the company;
- common shares of the company were distributed to the common shareholders of BCE; and,
- Nortel Networks Limited became the principal operating subsidiary of the company.
The company also assumed Nortel Networks Limited’s financial reporting history as of May 1, 2000, the date of the plan of arrangement, for financial reporting purposes. Effective May 1, 2000, in conjunction with the plan of arrangement, BCE’s ownership interest in Nortel Networks was reduced from approximately 36% to a nominal amount. As a result, BCE and entities owned by BCE were no longer considered related parties immediately after the plan of arrangement.
Nortel is a manufacturer of infrastructure equipment for wireless, enterprise, wireline, and optical (primarily long-haul) networks with a presence in 150 countries. Although based in Canada, it operates mostly in the US and reports its financial figures in US dollars.
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