The pursuit of Nortel Networks' valuable wireless assets accelerated Tuesday when private-equity group and Nortel creditor MatlinPatterson trumped Nokia Siemens' bid for the Carrier Networks unit with a $725 million offer, saying it hopes to lap up other Nortel divisions and form a "New Nortel." The new offer, on top of Research in Motion's apparent desire to buy key wireless assets and patents for $1.1 billion, signals the possibility of a bidding war, analysts said.

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