Struggling Nortel to Sell Ethernet, Optical Division

Trying to right the ship, Nortel – which recently lowered its forecast and whose shares are down about 40 percent – says it plans to sell its Metro Ethernet Networks division, which sells optical and Ethernet gear, as part of a major reorganization. That’s a huge deal for the company considering it’s been a leader in pushing the industry forward on Ethernet transport and ever-higher optical technology.