Nortel Implements Previously Announced Share Consolidation.
PR Newswire Europe, December, 2006
TORONTO, Canada, December 1 /PRNewswire/ -- Nortel Networks Corporation [NYSE: NT , TSX: NT] today implemented the previously announced consolidation of its issued and outstanding common shares as approved by the Company's Board of Directors on November 6, 2006 and its shareholders at the annual and special meeting of shareholders on June 29, 2006.
Nortel's(i) common shares, listed on the New York Stock Exchange ("NYSE") and the Toronto Stock Exchange ("TSX"), will begin trading on a consolidated basis when the NYSE and TSX open today. The consolidation was implemented with a ratio of one consolidated share for every ten pre-consolidation shares. The consolidation has reduced the number of shares outstanding from approximately 4.3 billion to approximately...
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