Not so long ago, Nortel Networks Corporation announced that it won a court approval in the United States and Canada to sell two of its business units. This represents a diversified move, which would give them sufficient cash to re-focus priorities, as they are no longer the once-dominant network giant. As such, they are filing for Chapter 11 protection in January.

The larger unit of Nortel’s global optical networking and carrier Ethernet businesses is going to Ciena Corporation. The unit is actually one of the most sought-after assets of Nortel. In turn, Ciena is expected to get all products, contracts, and intellectual property including technology that improves the speed and capacity of fiber optics.

It was the bankruptcy court in Delaware and Ontario who made the approval of the deal that would expect Ciena to pay $530 million in cash while taking on $239 million in convertible notes due on June 2017. The closing of the deal would be expected to be closed first quarter next year, though court approval is still needed in France and Israel.

The selling doesn’t stop their. Nortel had also made an announcement that the United States and Canadian Courts have approved the sale of its North American GSM business to LM Ericson Telephone Company of Sweden.

With this move, obviously shares would drop as it already fell 3% in the premarket trading. But as soon as it gains momentum, it should be able to recover just like any other businesses. It would probably not take any longer for them to finally zoom up like what Nortel was once known before.

Droppings of share usually happens like many companies. But the most important thing is that it must immediately focus to set priorities on what are the most important things that need to be done.

GE’s (General Electric Co.) recent sale of its stake in NBC Universal, the television, cable, film and theme park giant operator to Compcast Corp. has given Chief Executive Officer Jeffrey Immelt instant cash. The selling price was approximately estimated to be about $8 billion dollars, which in turn would give scrutiny as to how he would steer the company, as one investor had said.

In this case, GE would have more time to focus on its priorities such as resources on aviation, medical imaging, finance and power generation. The deal would also allow NBC to be valued at nearly $37 billion dollars when the transaction completes after merger costs and a buyout of partner Vivendi SA’s 20 percent stake.

In turn, the deal would allow Immelt, the ninth CEO in its 117 year history to shift resources to the company’s main business and would hope to eventually engine the company’s growth in each of its main line.

Although GE would eventually lose the annual 11 percent return on their investment with NBA Universal, they will still be able to have hold on the company. Because Vivendi, the minority owner, agreed recently to sell its take to GE for $5.8 billion. That will let GE proceed with plans to put NBC Universal into a joint venture controlled by Philadelphia-based Comcast, the largest U.S. cable-TV provider. If the Comcast (CMCSA) transaction isn’t completed in September 2010, GE will buy 7.66 percent of Vivendi’s stake for $2 billion, according to the statement.

Under the terms announced today, GE can exit half of its remaining interest in the new venture 3 1/2 years into Comcast’s ownership and the remaining stake in year 7.

With Immelt’s leadership, the company has made more than $21 billion in acquisitions including the combination of Paris based Vivendi’s $14 billion in media assets. But as of now, the focus is to make sure they give investors a good explanation.