Nortel Networks, the Canadian telecommunications equipment maker operating under Chapter 11 protection, has attracted two firm bidders for its corporate networking business, which it plans to sell on Friday in an auction that could fetch more than $600m.
Avaya, the US business communications group, and Siemens Enterprise Communications (SEN), a joint venture of Siemens and Gores Group, the US private equity firm, have both won approval to bid for the unit which makes network equipment such as routers, IP phones, switches and related security products for large companies.
