Zarlink sells its Mitel shares Zarlink Semiconductor has sold its Mitel Networks Corporation shares for US$12.9 million, following the approval of the merger of Mitel and Inter-Tel (Delaware) Incorporated ('Inter-Tel'). Zarlink obtained ownership of 10 million common shares of Mitel through the sale of its Systems Business in Fiscal 2001. In Fiscal 2002, Zarlink acquired a put right on its shares as a result of conditions obtained by a new investor in Mitel. On June 4th, 2007, Zarlink and other put right holders agreed to an amendment to the put right as a result of Mitel's announced proposed merger with Inter-Tel and associated refinancing arrangements.