Nortel confirms it may sell businesses

Nortel Networks confirmed that it will "seriously" consider any bids for its businesses.

Bruce Gustafson, Nortel's vice president of strategic marketing for the company's carrier networks unit, did not address specific reports that the company was looking for buyers for its wireless business and enterprise telecom units. However, he said that Nortel "will go through the process of having those discussions" if they come up.   

It was first reported in March that Nortel was in talks with some of its competitors to sell its wireless-equipment business and its enterprise telecom business. Nortel declined to comment at the time. The company was said to be talking to rivals such as Nokia Siemens Networks,  Avaya and Siemens Enterprise Communications.

Additionally, it was reported that private equity groups were considering buying some of Nortel's assets and merging them with assets from Motorola to form a new company.

For more:
-see this FT article

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