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NYSE Suspends Nortel Networks Corporation, Moves to Remove from the List
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NEW YORK, January 14, 2009 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of Nortel Networks Corporation (the “Company”) – ticker symbol NT – should be suspended immediately.
This decision was reached in view of the fact that the Company announced on January 14, 2009, that it, together with certain of its subsidiaries, voluntarily filed for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) in Canada as well as in the United States under Chapter 11 of the United States Bankruptcy Code. In addition, the Company was below compliance with the NYSE’s minimum share price standard.
The NYSE will make the appropriate filings with the U.S. Securities and Exchange Commission pending the completion of its applicable procedures, as the Company has informed the NYSE that it will not challenge this determination. The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.
Company contacts:
Media
Mohammed Nakhooda
905.863.7407
mohammna@nortel.com
Investors
888.901.7286
905.863.6049
investor@nortel.com
See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting
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