Nokia Siemens Attempts Hostile Bid On Nortel

Posted by Kallan Dahn Wednesday, December 2, 2009

Despite Ciena winning the auction for Nortels assets for $796 Million, Nokia Siemens has issued a new bid of $810 Million, and has filed an objection with the U.S. Bankruptcy court looking to nullify the auction results.  Ciena's winning bid has not yet been approved by the courts, therefor possession of assets has not yet been transfered.

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