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Nortel Auction: Still No Word

3:45 AM -- The auction may have started Friday, but the fate of Nortel Networks Ltd. 's Enterprise division is still unknown following a tense weekend of counter-bidding among Avaya Inc. , Siemens Enterprise Communications GmbH & Co. KG , and (possibly) other interested parties.

We reported Saturday that the auction was still in progress -- see No Nortel Deal Yet -- but now it's Monday morning and there's still no conclusion.

The process was complicated at one point by an intervention from Verizon Communications Inc. (NYSE: VZ), but the carrier's motion was dismissed by the bankruptcy court dealing with Nortel's affairs, according to this Ottawa Citizen report. (See Avaya Responds to VZ Comments .)

As soon as there's any news of a winning bid we'll provide an update.

— Ray Le Maistre, International News Editor, Light Reading

digits 12/5/2012 | 3:56:39 PM
re: Nortel Auction: Still No Word

Avaya has won the auction with a $900 million bid. Report to follow shortly.

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