A report surfaced in a German newspaper last week that Siemens was interested in buying Nortel.

However, a Siemens spokesman denied the report, the Reuters news service reported.

The newspaper Die Welt said that Com, a telecom unit of Siemens, was “considering a large acquisition and had held talks with Nortel,” Reuters said.

“A takeover of Nortel is not an issue,” a Siemens spokesman told Reuters.

Nortel: www.Nortel.com