Two days after the Economic Times reported that Nortel Networks Inc. had made a minority investment in Bangalore-based optical equipment maker Tejas Networks India Ltd., there has still been no official confirmation from the company's Brampton, Ontario, headquarters. Instead, a spokesperson offered this tacit confirmation: "I haven't been asked to ask for a correction, so I'm assuming it's accurate." Seeking Alpha's post on Nortel notes that the timing of such a deal being finalized makes sense, given that that CEO Mike Zafirovski is currently visiting India.

So why the silence from Nortel? The spokesperson explains that Nortel regularly makes small, regional investments without a lot of fanfare. Tejas, however, is more significant than the run-of-the-mill regional investment. The privately held company, one of India's largest optical gear makers and backed by a number of Western VCs, including Sycamore Networks Inc. and Intel Capital, is slated to go public next year. —Andrea Orr

See Economic Times post
See SeekingAlpha's post on Nortel

Tags: deals, m&a, mergers, Nortel