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Report: Nortel's Metro Ethernet attracts billion-dollar offers
USTelecom dailyLead | 12/24/2008

Three bidders reportedly have offered Toronto-based Nortel up to $1 billion for its Metro Ethernet division. Others have offered to buy Nortel in its entirety as the company looks to cut costs, according to a report from The Globe & Mail. Globe and Mail (Toronto), The (12/23) Bloomberg (12/23)

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Cohen has heard that China's Huawei would like to bid on the entire company, although Committee on Foreign Investment in the U.S. (CFIUS) regulations could prohibit this. The analyst adds that Ericsson would be the most likely suitor for Nortel's carrier business, as the acquisition would expand its reach in radio communication technologies.
http://www.thestreet.com/story/10454935/1/nortel-gets-1b-bids-for-ethernet-biz-report.html?cm_ven=GOOGLEN