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Nortel and Corning say talks are off on $100 billion fiber-optics sale

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NEW YORK (AP) — Nortel Networks and Corning say they have broken off discussions for the possible sale of Nortel's optical components business to Corning in a deal potentially worth $100 billion. The announcement Thursday by the two major producers of fiber-optic equipment came as yet another top player in the industry, Alcatel of France, also revealed plans to capitalize on the mighty prices Wall Street is paying for businesses that make lasers, amplifiers and other gadgets that use light to beam data across the Internet.