TORONTO — Swedish telecom giant Ericsson says it has officially submitted a bid for Nortel's wireless division, ahead of the auction that starts tomorrow.
A spokeswoman for Ericsson confirmed that the company made the move before the official submission deadline on Tuesday, but declined to say how much Ericsson was willing to pay.
Reports have suggested that offer is worth $730 million, which would mean Ericsson has submitted the highest official offer yet.
So far, two other bidders have confirmed they will participate in the auction, New York-based MatlinPatterson and Nokia Siemens Networks.
Nortel refuses to confirm if other bidders plan to participate in the auction, but haven't made a public announcement.
Research In Motion (RIM) has complained that it was shut out of the bidding process because it wouldn't agree to certain terms of the auction set by bankruptcy courts in Canada and the United States.