Comments on: Will it be Avaya ? Siemens ? Either way, it’s good bye to Nortel, Canada’s Telecom giant.

By: Jeff Wiener

Jeff Wiener — Sun, 13 Sep 2009 22:22:34 +0000

Thanks for the compliment Mike regarding the blog.

Hopefully this gets sorted out tomorrow.

By: Michael McNamara

Michael McNamara — Sun, 13 Sep 2009 19:54:46 +0000

It's litterally the never ending story... just when you think the end is near there's a new twist or turn. You could almost liken it to Fox's hit show 24 where they always keep you guessing. Originally I had thought the bid process was suspended because of Verizon's late play but I guess the bidding is going forward. That would have been a great event to simulcast, I'm sure quite a few of us would have paid a few dollars to see it in action. I like the blog Jeff please keep up the good work! Mike

By: UCChangeAgent

UCChangeAgent — Sun, 13 Sep 2009 15:19:39 +0000

One consideration here is that Avaya, as the Stalking Horse Agreement holder, has the right to review the last bid. Each bid is reviewed by The Monitor, The Committee of Unsecured Creditors and the Bondholder Committee, along with all other bidders. Nortel has limited jurisdiction in that part of the auction proceedings.

So, if SEN delivers a bid that fundamentally changes a major term or condition, such as the number of employees retained or provisions for Assignment & Acceptance of Existing Contracts, then those T&C changes will go through a substantial review by the parties.

There is a lot more to this process than the price bid. In the end, I think that SEN wants the business more than Avaya and that they are looking at Terms & Conditions changes that will result in a win for them.