Media speculation of US buy-in for Euro giant
Telecommunication equipment giant Nokia Siemens Networks is said to be in the running to buy some of the larger parts of troubled Nortel Networks Corp, which went into Chapter 11 bankruptcy protection in January.
The move is seen as offering a stronger foothold in the lucrative North American markets to the world’s second biggest supplier of telecommunications networking gear.
Newspaper reports suggest that the joint venture business between Nokia Corp and Siemens AG has already made an unsolicited offer for most of Nortel’s carrier networks business, including some of its wireless and VoIP interests.
Apparently, Siemens Enterprise Communications and Avaya Inc are two of the companies expected to bid for Nortel’s enterprise telecom business, which is also to be divested as part of the ongoing restructuring process of the Canadian networking group.