More from Tuesday’s Economic Club of Canada luncheon featuring Nokia Siemens Networks’ Sue Spradley: NSN is willing to raise its bidding price for Nortel Networks Corp.’s (NT) wireless assets and even is considering buying other Nortel units.
That’s the latest twist in the saga of Nortel’s downfall. We’ll know more next week; competing bids for Nortel are due July 21. An auction will be held July 24. Private equity firm MatlinPatterson and two groups of ex-Nortel execs also want a shot at Nortel, and there could be other parties involved.
Spradley said NSN would become the No. 2 equipment maker if it gets Nortel, ahead of Ericsson (ERIC) and just behind Alcatel-Lucent (ALU). Plus, NSN would turn into one of the key vendors for LTE technology, the next phase of wireless and mobility.
The facts imply that having to pay more for Nortel would essentially pay for itself.