WHEN: Starting at 9:30 a.m. New York time
WHAT'S FOR SALE: Nortel's CDMA and LTE wireless technology businesses, which include the network infrastructure equipment switches and gear and some patents.
CDMA is a wireless technology widely used in the United States. Long Term Evolution (LTE) is an emerging high-speed wireless technology that many of the world's biggest operators have said they would use for future network upgrades.
AUCTION CHRONOLOGY
Bids were due in on Tuesday, July 21.
Nortel will announce the auction winner and other participants as soon as there is a clear result.
A U.S. court will hear any objections to the bidding process on July 28.
A Canadian court will hear objections, if any, on July 30.
WHO'S IN THE RUNNING AND WHAT ARE THEY BIDDING?
There are at least three formal bidders who have announced intentions to bid for the assets:
* Nokia Siemens Networks announced a $650-million, "stalking horse" bid for the assets last month.
* MatlinPatterson, a private U.S. equity firm and Nortel creditor, announced a $725-million bid for wireless assets this week.
* Sweden's Ericsson also submitted a bid this week and newspaper reports said it was valued at $730-million.
* RESEARCH IN MOTION - Canada's Research in Motion says it is actively pursuing the assets and is in talks with stakeholders to find a way for a "generous" offer to be considered. Earlier in the week it complained Nortel had effectively blocked an approach valued at $1.1-billion.