Ericsson has entered the bidding battle for Nortel's wireless assets.
The Swedish telecoms equipment manufacturer did not disclose the amount it will bid in the auction - set to take place tomorrow - but reports are suggesting a figure of $730 million (440 million).
Ericsson spokesperson Ase Lindskog said in a statement: "We always look at opportunities that can be of interest for Ericsson and create value for us, and we are participating in this process to the point it makes sense."
Ericsson goes up against the initial bid of $650 million from Nokia Siemens in addition to yesterday's new contender, private equity firm MatlinPatterson, with a bid of $725 million.
BlackBerry-maker Research in Motion (RIM) was also interested in Nortel's CDMA business and LTE assets but it was excluded from the running by the company's insistence that if it took part, RIM could not bid for any of its other assets for at least a year.
-
The race is on for Higher Ed to adapt: Equity in hyflex learningHyflex courses can improve student wellbeing and engagement, but only with meeting technology that leaves no one behind
-
Gen Z workers are keen on AI in the workplace – but they’re still skeptical about the hypeNews Younger workers could lead the shift to AI, but only think it can can manage some tasks
