Electronics Production | November 23, 2009
Nokia Siemens misses out on Nortel deal again
Nokia Siemens Network is yet again missing out on Nortel assets. Who has won the bidding for the auctioned off assets has not been stated.
Nokia Siemens Network stated that it had not submit the highest bid for Nortel’s optical networking and carrier Ethernet assets. The assets were sold in a bankruptcy court-sanctioned auction last weekend. Nokia Siemens Networks continued in saying that its final offer represented fair value for the assets, and further bidding could not be financially justified. Media reports suggested earlier this year that the Ciena Group had already made an offer of $510 million in October.