Ciena Targets Nortel Division: Report

Network specialist Ciena(CIEN Quote) may be about to pounce on part of troubled telecom equipment manufacturer Nortel Networks(NT Quote), according to a Bloomberg report.

Nortel, which filed for bankruptcy protection in January, is still working out its long-term strategy, although there has been plenty of speculation about its future.

The Canadian firm is rumored to be carving off key assets, suggesting that the firm may break itself up rather than emerge from bankruptcy as planned. ...