Nortel Networks Takes Majority Ownershipin German, French Joint Ventures

LONDON, Apr. 3 -- Nortel Networks has increased its ownership in Nortel Dasa Network Systems GmbH and Co. KG (Nortel Dasa), its German joint venture with DaimlerChrysler Aerospace, and in Matra Nortel Communications SAS (MNC), its joint venture with France's Aerospatiale Matra. Nortel Networks said it would increase its 50-percent ownership in both Nortel Dasa and MNC to 58 percent and 55 percent, respectively.
Our increased ownership in Nortel Dasa and MNC underpins Nortel Networks' commitment to delivering high-performance Internet capabilities to carriers, service providers and enterprises across Europe, said Clarence Chandran, president of Nortel Networks' Service Provider and Carrier Group. We are a global leader in the optical, wireless and IP markets and will seek to expand this through our increased ownership in Germany and France -- countries that are experiencing unprecedented demand for the best-of-breed high-performance Internet solutions that Nortel Networks delivers.