No Nortel Deal Yet
The auction, in New York, apparently went late into the night, so they took a break. Presumably, they've started up again by now.
To recap: We're talking about the auction for Nortel's enterprise business. We know Avaya Inc. and Siemens Enterprise Communications GmbH & Co. KG are involved in the bidding, and there may be others. The winning bid will probably be a lot more than the initial $475 million. (See Avaya Offers $475M for Nortel's Enterprise.)
How long can this go on? As long as they want it to, apparently. If I were bidding, I'd insist on a change of venue to keep things fresh -- and I'd also point out that A.J. Burnett is pitching for the Yankees this afternoon (hint, hint).
— Craig Matsumoto, West Coast Editor, Light Reading
OK, looks like the auction was held up by the Verizon complaint, so says the Ottawa Citizen.
Still, there's no result as of 5:30 pm Eastern. I'm starting to think they really did go to the Yankees game (which the Yankees lost).