That would top the $530 million in cash plus $239 million of convertible notes that made up Ciena's winning bid for what was considered one of Nortel's more-prized units. In its filing with the bankruptcy court, Nokia Siemens took issue with the valuation of the convertible note portion of the offer. Nokia Siemens, with One Equity Partners, said it had offered $770 million in cash during the auction, but Nortel picked Ciena instead. A Ciena spokeswoman said the company was aware of the objection, but declined to comment.