Is Nortel ready to fall lower?
Posted July 13, 2009on:
Last week, Nortel was too busy pimping its own assets rather than talking about the future of the company, reports Wireless Week. With July 21 looming as the final date to bid on Nortel assets, a little panic may be setting in.
A Nortel event last week was supposed to be a discussion on the “realities of the current CDMA market,” but after the presentation ABI Research analyst Nadine Manjaro asked if the company had dragged her in for a sales pitch. Manjaro believes that Nortel is “rushing” to get higher bidder in play.
Currently, the only public bid is a $650 million offer from Nokia Siemens Networks, with “vulture capitalist” firm and Nortel creditor MatlinPatterson also making noises it’s going to make a bid for the whole company. Nortel officials are playing cute, hinting of other bidders, but if that’s so, why is the company trying to pump the future of its assets?
We’ll all find out more at the end of the month, when the identities of the bidders will become public. At this rate, MetaSwitch might as well throw in a low-ball bid for Nortel’s VoIP assets just to make ’em sweat.