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08 Apr 2009
Speculation continues about the future of communications vendor Nortel following reports that Nokia Siemens Networks wants to acquire big chunks of the company.
The Wall Street Journal, citing sources close to the deal, claims Nokia Siemens raided its piggy bank to make an offer for most of Nortel's carrier networks unit. It also claimed the Finnish-German joint venture is keen to buy a research arm devoted to developing wireless kit.
Nokia Siemens is eager to make a much bigger splash in the US market and its ambitions are said to have prompted the unsolicited Nortel bid. IP gateway specialist Genband is reportedly putting together a bid for another piece of Nortel's carrier networks business.
Further reading
It is rumoured that Nortel rivals Avaya and Siemens Enterprise Communications made offers earlier this month for the troubled Canadian firm's enterprise arm. The amounts being offered for all units are reported to be relatively low as Nortel's bankruptcy has stymied orders for its enterprise kit.
Nortel spokesman Jay Barta declined to comment on specific rumours but told The Wall Street Journal: "We are pursuing opportunities that we believe will provide maximum benefit to our key stakeholders, including our creditors, customers and employees."
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