Nortel interest perks up; NSN vows to up bid

07/15/2009 | National Post (Canada) · Ottawa Citizen (Ontario) · Reuters

As more bidders expressed interest in Nortel Networks' Carrier Network unit, Nokia Siemens Networks said it would beef up its $650 million bid if necessary to win the asset. Nortel's former chief strategy officer is advising MatlinPatterson, a group of Nortel creditors that wants to buy the entire company, and two separate groups of Nortel alumni are also trying to mount an eleventh-hour bid for the equipment maker.

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National Post (Canada) · Ottawa Citizen (Ontario) · Reuters

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