Nokia Siemens Networks and private equity firm One Equity Partners have jointly bid for Nortel Networks Corp.'s optical networking and carrier ethernet business, according to reports.
The insolvent telecommunications equipment maker started the auction for its optical networking and carrier ethernet businesses on Friday.
Nokia Siemens is challenging Ciena Corp.'s more than $500 million bid for the Nortel assets, according to reports.
The sale of Nortel assets will require court approval once a winner is determined. The company will likely appear before a judge next week.
The former Canadian technology heavyweight has been selling off divisions after filing for creditor protection in January.
With files from The Canadian Press and Reuters
