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MEN Sale Struggling
By Mark Evans | October 9, 2008
According to a story in the Financial Times, Nortel’s efforts to sell its metro Ethernet network business isn’t going well.
Citing two investment bankers not involved in deal, the sale has “stalled” or it’s “lukewarm”.
Given the volatile capital markets environment, this should not come as a major surprise. As well, you have to believe Nortel is looking to get an attractive price - let’s say $1-billion to $2-billion - for MEN, which will be a challenge.
The FT quoted one of the investment bankers as saying MEN is worth $700-million in a “good” market, and it has attracted 10 bidders with “lukewarm” interest.
Technorati Tags: MEN, metro ethernet network, Nortel
Topics: M&A |