Nortel sells HQ building to Rogers Communications
Last Updated: Tuesday, October 25, 2005 | 4:54 PM ET
CBC News
Rogers Communications is shelling out $100 million to buy Nortel Network's massive corporate headquarters building in Brampton, Ont., the companies announced Tuesday.
Rogers (TSX:RCI.nvb) gets the one-million-square-foot office space along with 57 hectares of land. The company is scheduled to take possession of the site on Jan. 4, 2006.
Nortel (TSX:NT) said it is planning to relocate to two offices in the Toronto area, a sales studio and a larger corporate centre.
"Nortel will continue to have a significant presence in the Toronto area in order to remain close to customers, be in close proximity of the financial capital of the country and to leverage the large talent pool in the area," Bill Owens, Nortel's chief executive officer said in a release.
Nortel's corporate headquarters building, Brampton, Ont.
According to Nortel's website, the Brampton location houses the company's Canadian sales, marketing, global operations, human resources, finance and legal departments, among others.
Rogers Communications currently has its corporate offices in several buildings in downtown Toronto.
Share Tools
Big Box Advertisement
Top News Headlines
- Immigrants the proudest Canadians, poll suggests
- Most Canadians feel immigrants are just as likely to be good Canadian citizens as people who were born here and don't object to them keeping their original citizenship, according to a recent Environics survey. more »
- NDP MPs urged to scrap gun registry in final vote
- Public Safety Minister Vic Toews urges opposition MPs to break party ranks and side with the government during tonight's vote on scrapping the long-gun registry. more »
- Honduras prison fire kills hundreds
- Trapped inmates screamed from their cells as a fire swept through a Honduran prison, killing at least 300 inmates in one of the world's deadliest fires in decades, authorities said Wednesday. more »
- Ocean Ranger sinking still haunts 30 years later
- The violent storm that sank the Ocean Ranger, killing 84 men, still haunts people 30 years after the disaster on the Grand Banks east of Newfoundland. more »
Latest Business Headlines
- Some Eurozone countries doubt Greek bailout will work
- There are strong doubts among some of the countries that use the euro over whether a second massive bailout can actually save Greece, officials said Wednesday, even as Athens rushed to meet tough conditions to qualify for the €130 billion ($170B US) rescue. more »
- 6 ways Greece can bounce back
- Although Greece's economic future seems dire, a number of the country's sectors show promise, according to observers. more »
- Target to partner with Starbucks in Canada
- Minneapolis-based discount fashion retailer Target Corporation will partner with Starbucks when it opens its outlets in Canada, the retailer announced Wednesday. more »
- CPP invests in London's Victoria Circle
- The Canada Pension Plan Investment Board has announced a joint venture partnership to develop a $1.56 billion, residential, office and retail complex in London. more »
Lang & O'Leary Exchange
Markets
TSX COMPOSITE
Feb 15, 2012 11:29 AM ET
Feb 15, 2012 11:29 AM ET
Feb 15, 2012 11:30 AM ET
Feb 15, 2012 11:35 AM ET
Feb 15, 2012 09:58 AM ET
Feb 15, 2012 09:58 AM ET
Feb 15, 2012 11:30 AM ET
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 12375.9 | 21.43 |
| DOW | 12852.81 | -25.47 |
| NASDAQ | 2951.72 | 19.89 |
| SP 500 | 1353.62 | 3.12 |
| NYSE COMPOSITE | 8034.05 | 4.44 |
| AMEX | 2432.11 | 3.05 |
| TSX-VENTURE | 1639.84 | 9.81 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
Business Features
- Barefoot Newfoundland girl survives icy ordeal
- Immigrants the proudest Canadians, poll suggests
- Legalize pot, say former B.C. attorneys general
- Online privacy erosion dismays critics
- Russians in abusive plane tirade to be sentenced
- Botox injected by unlicensed practitioners
- Honduras prison fire kills hundreds
- Trudeau says sovereignty less of a bogeyman now
- Toronto NBA fans experience 'Lin-sanity'
Big Box Advertisement
