Nortel Wireless auction is today - will RIM win?
A month ago, bankrupt Canadian Telecom giant Nortel announced that it had entered into a 'stalking horse' agreement with Nokia-Siemens to sell off its wireless assets for $650 million. The stalking horse part means that others could emerge to bid for the assets - and that's what has happened.
The official auction of Nortel's wireless assets is set for today,with multiple bidders involved. In addition to Nokia-Siemens, MatlinPatterson ($725-million) and Ericsson ($730-million) are now bidding as well. RIM might be involved too with a bid as high as $1.1 billion as well.
The winner of the auction should be named later today or possibly tomorrow.