Multiple Bidders Interested in Nortel’s Enterprise Division

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Multiple Bidders Interested in Nortel’s Enterprise Division

3:28 pm on September 4, 2009 | Category: Business, Corporate

Bankrupt telecom equipment maker, Nortel Networks, has received multiple bids for its enterprise networking division, the company said earlier today.

Nortel revealed in July that it had received a $475 million “stalking horse” offer from rival business networking giant, Avaya Inc. One or more additional offers have been made since that time, a Nortel spokesman confirmed, without providing any details about the number or nature of the bids.

Nortel filed for bankruptcy protection in January and has been seeking to liquidate its assets in recent months. An auction for the enterprise networking business is expected to take place on September 11.