Ericsson bids for Nortel wireless unit

The list of bidders for Nortel Networks' wireless networks division has grown to include another market heavyweight: Ericsson of Sweden.

A company spokesperson confirmed Thursday that it has made a bid, but did not say how much Ericsson is offering.

The Globe and Mail reported that Ericsson bid $730 million US for the Nortel unit.

The Ericsson offer comes after Nokia Siemens made a $650-million bid and New York-based private equity fund MatlinPatterson Global Advisers LLC, a creditor of Nortel, made a bid worth $725 million.

BlackBerry maker Research in Motion Ltd. said July 20 it had been prevented from submitting an offer for the Nortel wireless business because it also wanted to buy other Nortel assets.

A court decision on the auction of the Nortel wireless division is due July 24.

Asset sales

Nortel entered bankruptcy protection in January, and has been selling off the bulk of its assets.

Earlier this week, the company said it had reached an agreement to sell the bulk of its Enterprise Solutions unit to Avaya Inc. for $475 million. Nortel described the deal as a "stalking horse" agreement, suggesting that the company hopes it will prompt other potential bidders to make a better offer.

The Enterprise Solutions unit supplies phone systems and other communications equipment to businesses and large organizations around the world.