Bidders fight to buy UB Networks

UB Networks could be sold by the end of the month, possibly to Newbridge Networks or Hewlett Packard.

Sources said Newbridge, which considered buying UB four months ago, bid last month and beat all previous offers. Until then three computer companies - including HP - were favoured bidders. It is understood that UB hopes one of the computer firms will match Newbridge's offer.

UB Italian country manager Eros Piffer refused to say which company made a late bid for the networking firm.

'We would rather UB was bought by a computer company looking to us for networking expertise,' he said. 'We don't want to be swallowed up.'

Last month UB president and COO Chris Brennan said the firm could be sold by mid-October. A source said: 'Newbridge put the cat among the pigeons, and slowed things down. Unless there is a prolonged bidding war, UB will hopefully see a deal by the end of the month.'