Nokia Siemens Networks has offered to buy large pieces of Nortel, including its carrier networks unit and a next-generation wireless technology research group, according to the Wall Street Journal.
The report said that Nokia Siemens was interested in Nortel's Long Term Evolution (LTE) technology, intended to replace 3G networks that mobile phones currently use.
It also claimed the bid included Nortel's market leading' VoIP business. The bids for the Nortel units were described as low'.
Nortel recently filed for bankruptcy protection, and has had to slash around 5,000 jobs.
Nortel said in a statement: "Planning is underway and we are pursuing opportunities that we believe will provide maximum benefit to our key stakeholders, including our creditors, customers and employees."
Nokia Siemens said it wouldn't comment on speculation.
