Nortel aims to close Nokia deal by August

Nortel Networks Corp. aims to close its $650-million (U.S.) deal to sell wireless assets to Nokia Siemens Networks by the end of August.
Nortel, which filed for protection from creditors in January, wants the courts to sign off on the deal by July 30 and has recommended July 21 as the cut-off date for any rival bids, Ernst and Young Inc., the court-appointed monitor.

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