The Canadian telecom giant has laid its optical networking and carrier Ethernet business for Dutch auction. Nortel has been selling its business to forfeit its creditors followed by a huge loss in last year. It also gained a insolvency fortification in the US and Canada in January.

But it was expected that Nokia with its financial partner will bid high for Nortel’s next-generation wireless business but in vain, Nokia Siemens conluded that its final offer represented fair value for the assets, and further bidding could not be financially justified.