MEN includes Nortel's optical and Carrier Ethernet product portfolios. after having failed to restructure the company under Chapter 11 bankruptcy as a viable telecom competitor.

To date, Nortel has sold its for just over $1 billion; for just under $1 billion; and is also looking to sell its .

Various analyst estimates peg the value of MEN between $500 million and $1 billion.

Nortel and Ciena say the outcome of their discussions is uncertain and subject to negotiation of definitive agreements. Any agreements would be subject to a competitive bidding process to be approved by the United States Bankruptcy Court for the District of Delaware, the Ontario Superior Court of Justice and the Canadian Companies' Creditors Arrangement Act.