Equipment vendor Nokia Siemens Networks (NSN) has reportedly approached bankrupt rival Nortel Networks over acquiring some of its mobile assets, reports Reuters, citing a Wall Street Journal report. Europe-based NSN is understood to have made an unsolicited offer for large parts of Nortel’s mobile business last month according to people familiar with the matter. NSN is also interested in Nortel’s LTE wireless technology, the report says. Both companies declined to comment on the matter. A separate auction for Nortel’s enterprise unit last week reportedly attracted bids from Avaya and Siemens Enterprise Communications, say sources. The bids being offered for Nortel’s various units are believed to be low.

Canada-based Nortel filed for bankruptcy protection in January this year, but subsequently said that it hoped to emerge from bankruptcy protection before mid-year as “a leaner and more competitive company.” However, under bankruptcy law, Nortel must seek the most value for its creditors, which could mean breaking the company apart if suitable buyers are found. The sale of Nortel’s mobile business – which generates the most cash for the company – would complicate plans for Nortel to emerge as a standalone company. The company’s VP of strategic marketing for its carrier networks unit, Bruce Gustafson, said earlier this week that the vendor would “seriously” consider any bids for its businesses.