With the last dates for floating bids for Nortel Networks Ltd. assets slated for the coming week, Nokia Siemens Networks said it will rev up its bid for the former’s wireless unit if other bidders pitch in bigger bids.

Nokia Siemens Networks has proposed $650 million offer for the Canadian telco’s wireless assets.

President of Nokia Siemens'' North American operations, Sue Spradley said that the company is willing to up the bid for Nortel if situation arises as he thinks the stakes are worth it.

The winning of the unit will spring Nokia Siemens into the No. 2 slot of wireless-network suppliers in North America, ahead of rival Ericsson.

Additionally, the company has also shown interest in buying more of parts of the bankrupt telco.