RIM still pursuing Nortel wireless assets

TORONTO, CANADA: BlackBerry maker Research In Motion is still pursuing the wireless assets of bankrupt Nortel Networks Corp and is in talks with the telecom gear maker's stakeholders to ensure its "generous" offer is considered, RIM said on Thursday.

RIM did not specify the value of a potential bid. However, earlier this week, it said it was prepared to offer about $1.1 billion but Nortel had effectively blocked the approach.

"The situation can still be resolved in a manner that serves Canadian stakeholders," RIM said in a statement e-mailed to Reuters.

"RIM remains seriously interested in bidding on Nortel assets and continues to engage with a variety of parties, including Nortel stakeholders, who share RIM's concerns in ensuring that RIM's generous offer be properly considered."

Waterloo, Ontario-based RIM has argued that Nortel's bidding process imposes unreasonable conditions. Nortel, however, has accused RIM of not complying with common confidentiality provisions that other bidders have agreed to follow.

In its statement on Thursday, RIM said it "was and is willing to sign an additional (non-disclosure agreement) to facilitate an offer for the acquisition of Nortel assets." At the same time, it again accused Toronto-based Nortel of shutting it out of bidding.

A Nortel spokesman said the company has no additional comment.

Last month, Nortel announced a "stalking horse" bid for its CDMA and next-generation LTE wireless technology businesses to Nokia Siemens Networks for $650 million, setting a floor price for the assets.

There are at least two other offers, including a $725 million bid from MatlinPatterson, a private equity firm that's also a major Nortel creditor. Sweden's Ericsson also came in at $730 million, according to a newspaper report.

Nortel filed for bankruptcy protection in January, blaming the economic crisis for derailing a turnaround effort that began in 2005.