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Nortel to Hold Off on M&A

May 7th, 2008 ·

Lots of stuff coming out of the AGM. Among the most interesting is a Reuters story in which Mike Zafirvoski suggests Nortel could make acquisitions to fuel growth but it will refrain given tighter credit markets.

“In the current environment, of course, financing is a challenge relative to where it was a year ago,” he said, adding: “We will not do anything silly.”

Bill Nelson, Nortel’s executive vice-president of global sales, told Reuters that an acquisition could help the company fill in gaps in its technology portfolio, or give it access to markets where it has a small presence.

The last deal of any size made by Nortel was the $99-million purchase of Tasman Networks in December 2005.

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Tags: M&A