Nokia Siemens Networks bid for Nortel Networks

Nokia Siemens Networks has stated they will raise their bid for Nortel Networks Corp’s wireless unit if others place higher bids ahead of a court supervised auction due next week, reports the financial post.

Nokia Siemens Networks has also intimated that they may be further interested in acquiring more of bankrupt Nortel Networks Corp’s remaining assets.

The president of Nokia Siemens’ North American operations, Sue Spradley believes the stakes are worth it as Nokia Siemens Networks is ready to raise the $650 million bid they offered Nortel in June. Winning the bid would shoot Nokia Siemens into the number 2 position of wireless network suppliers in North America.

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