We know there was an auction yesterday for Nortel’s metro Ethernet business. And we know there were two bidders: Ciena and, most likely, Nokia Siemens.
So, who took home the “prize” – an asset that Nortel viewed as its “crown jewel” when it originally put on the block more than a year ago.
Keep in mind, if Nortel had been able to sell MEN last year for $1-billion to $2-billion, the entire bankruptcy protection process may have been avoided because Nortel may have the financial flexibility it desperately needed to restructure.
Update: The auction is into its second day after Ciena asked for a break. (Source: Reuters)
What fascinating, brilliant facts… utterly damming, objective, crystallizing. Ultimately defines the farcical executive culture that years of hapless directors of the board permitted, led, encouraged… every single individual board member & CEO from & including John Roth's day to now, should be hounded and shamed. And lose their dammed houses….
less
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wasthere
I did work on both LOB's(MEN & Passport) while I was working there(more than 25 years) so I know what I am talking about when I say it was much mure complicated to manage MEN. Passport was a piece of cake compare to MEN.
So, Who Won MEN?
So, who won MEN?
We know there was an auction yesterday for Nortel’s metro Ethernet business. And we know there were two bidders: Ciena and, most likely, Nokia Siemens.
So, who took home the “prize” – an asset that Nortel viewed as its “crown jewel” when it originally put on the block more than a year ago.
Keep in mind, if Nortel had been able to sell MEN last year for $1-billion to $2-billion, the entire bankruptcy protection process may have been avoided because Nortel may have the financial flexibility it desperately needed to restructure.
Update: The auction is into its second day after Ciena asked for a break. (Source: Reuters)