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<P align="center"><FONT size="3"><B>SECURITIES AND EXCHANGE COMMISSION</B>
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<P align="center"><FONT size="2"><B>Washington, D.C. 20549</B>
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<P align="center"><FONT size="3"><B><U>FORM 8-K</U></B>
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<P align="center"><FONT size="3"><B><U>CURRENT REPORT</U></B>
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<P align="center"><FONT size="2"><B>Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>
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<P align="center"><FONT size="2">Date of Report<BR>
(date of earliest event reported)<BR>
June&nbsp;10, 2002
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<P align="center"><FONT size="3">NORTEL NETWORKS LIMITED</FONT>
<DIV><HR size="1" noshade width="46%"></DIV>
<DIV align="center"><FONT size="2">(Exact name of registrant as specified in its charter)
</FONT></DIV>


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<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
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        <TD width="30%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
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        <TD align="center" valign="top"><FONT size="2">CANADA</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
003-30758
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">62-12-62580</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><HR size="1" noshade></TD>
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        <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction
of incorporation)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(Commission File Number)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">(IRS Employer
Identification No.)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
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<TR valign="bottom">
        <TD colspan="3" align="left" valign="top"><FONT size="2">8200 Dixie Road, Suite&nbsp;100, Brampton, Ontario, Canada
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(address of principal executive offices)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">L6T 5P6
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(Zip code)</FONT></TD>
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<P><FONT size="2">Registrant&#146;s telephone number, including area code (905)&nbsp;863-0000.
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left"><FONT size="2"><B>Item&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Events</B>
</FONT>

<P><FONT size="2">On June&nbsp;10, 2002, Nortel Networks Corporation (&#147;NNC&#148;) announced that the
underwriters of the two concurrent public offerings of 25,000 equity units and
550&nbsp;million of its common shares have exercised their respective over-allotment
options to purchase an additional 3,750 prepaid forward purchase contracts and
82.5&nbsp;million common shares. The related press release is filed as Exhibit&nbsp;99.1
and is incorporated by reference herein.
</FONT>
<P><FONT size="2">NNC owns all of the Registrant&#146;s common shares and the Registrant is NNC&#146;s
principal direct operating subsidiary.
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<P align="left"><FONT size="2"><B>Item&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements, <I>Pro Forma</I> Financial Information and Exhibits</B>
</FONT>

<P><FONT size="2">(c)&nbsp; Exhibits.
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        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">99.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Press Release, dated June&nbsp;10, 2002.</FONT></TD>
</TR>
</TABLE>


<P align="center"><FONT size="2">2</FONT>

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<P align="center"><FONT size="2"><U>SIGNATURES</U>
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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
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        <TD width="40%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
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      <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" valign="top"><FONT size="2">NORTEL NETWORKS LIMITED</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
      <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD valign="top"><FONT size="2">By:</FONT></TD>
        <TD valign="top"><FONT size="2">/s/  DEBORAH J. NOBLE</FONT><BR>
<HR size="1" noshade>
<FONT size="2">Deborah J. Noble<BR>
Corporate Secretary</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
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<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
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      <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD valign="top"><FONT size="2">By:</FONT></TD>
        <TD valign="top"><FONT size="2">/s/  BLAIR F. MORRISON</FONT><BR>
<HR size="1" noshade>
<FONT size="2">Blair F. Morrison<BR>
Assistant Secretary</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
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<P align="left"><FONT size="2">Dated: June&nbsp;11, 2002
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<P align="center"><FONT size="2">3</FONT>


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e8vk
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report
(date of earliest event reported)
June 10, 2002
NORTEL NETWORKS LIMITED
(Exact name of registrant as specified in its charter)
CANADA
003-30758
62-12-62580
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
8200 Dixie Road, Suite 100, Brampton, Ontario, Canada
(address of principal executive offices)
L6T 5P6
(Zip code)
Registrant's telephone number, including area code (905) 863-0000.
Item 5.     Other Events
On June 10, 2002, Nortel Networks Corporation ("NNC") announced that the
underwriters of the two concurrent public offerings of 25,000 equity units and
550 million of its common shares have exercised their respective over-allotment
options to purchase an additional 3,750 prepaid forward purchase contracts and
82.5 million common shares. The related press release is filed as Exhibit 99.1
and is incorporated by reference herein.
NNC owns all of the Registrant's common shares and the Registrant is NNC's
principal direct operating subsidiary.
Item 7.     Financial Statements,
Pro Forma
Financial Information and Exhibits
(c)  Exhibits.
99.1
Press Release, dated June 10, 2002.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NORTEL NETWORKS LIMITED
By:
/s/  DEBORAH J. NOBLE
Deborah J. Noble
Corporate Secretary
By:
/s/  BLAIR F. MORRISON
Blair F. Morrison
Assistant Secretary
Dated: June 11, 2002
3