Nortel Networks announced it has re-scheduled the auction of its Metro Ethernet Networks unit for this Friday, Nov. 20, and it has a new bidder to consider. Nokia Siemens Networks, which had been rumored to be mulling participation in the auction, has joined with One Equity Partners to come up with a bid, according to a Reuters report late Wednesday.
The sale process was put off last week by Nortel. It has taken Nortel 14 months to get to the brink of selling the unit, after it originally announced its desire to sell it in September of 2008 before later yanking it off the market.
- Reuters has this story
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