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Nokia Siemens Networks Makes Hostile Bid for Nortel Assets

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Dec 2, 2009, 1:44 PM   by Eric M. Zeman

Nokia Siemens Networks has ignored Ciena's winning bid for some of Nortel's networking assets and has made a new bid of $810 million. Ciena won the assets from Nortel with a bid of $769 million in an auction that ended last week. Ciena's bid still needs to be approved by the U.S. Bankruptcy Court, which is overseeing the auction of Nortel's assets in the U.S. Nokia Siemens Networks filed an objection with the U.S. Bankruptcy court seeking to nullify the auction results.

more info at Wall Street Journal »

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