Nortel gets Supreme Court backing to postpone AGM

24 Jun 2004

Nortel Networks has won approval from the Ontario Superior Court to postpone its annual general meeting until no later than 31 December. The vendor is in the throes of restating its results for fiscal 2003 and as a result is expected to miss the 30 June deadline to hold the meeting. Canadian and US regulators are investigating the company’s accounting procedures and new CEO William Owens is overseeing a review of 2003 and earlier periods.

Bangladesh, PBTL (CityCell)