Nortel: Don't Say M&A

NOON -- On the fourth quarter earnings call today, Nortel Networks Ltd. president and CEO Mike Zafirovski, repeatedly refused to comment on questions relating to M&A plans. (See Nortel, Moto in JV Talks?, MOTO & NT: Again?, and More on MOTO & NT.)

"I won't make any speculative comments on inorganic growth," he said.

However, he went on to say: "We want to become more significant in the spaces where we operate. So we're not looking for diversifying activities. We believe we could successfully integrate someone within Nortel... even though transactions are difficult in this environment. But 99.9% of our efforts are on driving our business organically."

Sounds like that's a yes and a no. But could this mean Nortel is looking to do more with Motorola Inc. (NYSE: MOT) than the reported joint venture talks, and it's not interested in Moto's handset business?

— Michelle Donegan, European Editor, Light Reading

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