Nortel: M&A Update

9:10 AM -- Canada's Globe and Mail has the latest inside news on Nortel Networks Ltd. 's plans to sell some of its assets.

According to its latest report, there are three offers for the vendor's Metro Ethernet Networks (MEN) division of around $1 billion. (See Nortel to Sell Carrier Ethernet, Optical Biz.)

None of the bidders is identified, though Huawei Technologies Co. Ltd. does get a name check as a potential suitor. (See Huawei Seen as Likely Nortel Suitor, Is Huawei Moving Closer to Nortel?, and Why Huawei Should Buy Nortel's MEN .)

Nortel's share price currently stands at $0.25, giving the whole company a market capitalization of $124 million.

Catch up with all of Nortel's ups and downs from 2008 (yes, it had some ups!) in our 2008 Top Ten: Nortel News.

— Ray Le Maistre, International News Editor, Light Reading

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