Nortel weighs its optical auction options

Content with waiting to get the best offer for its Metro Ethernet Network (MEN) division, Nortel has decided to extend the deadline of the auction for that segment of the company.

This latest development, while not entirely surprising, comes after not only receiving a $514.2 million stalking-horse bid from Ciena to buy the division but rumors emerged that Nokia Siemens Networks (NSN) and other unnamed companies could be interested in the deal.

Although the auction was set to take place today, Nortel has not announced the new auction date, nor would it comment on the delay. Today, Nortel issued a statement that said qualified bidders are now required to submit offers by November 17, 2009 and that it will provide a further update on the auction process and sale of these businesses next week.

For more:
- Wall Street Journal via Dow Jones has this article

Related articles
No done deal yet in Nortel's optical sale
NSN may be moving on Nortel's Ethernet unit
Ciena crafts deal for Nortel's Ethernet assets
Nortel VoIP technology upgrades continue despite hardships

Suggested Articles

Telco Systems announced that it has achieved a performance milestone in the development of a full Open vSwitch data path hardware offload solution.

GBI is using Nuage Networks' SD-WAN technologies to connect branch locations to both public and private clouds in the Middle East and Africa.

For the first time, Huawei has put some numbers behind the impact that the U.S. ban is having on its bottom line.