Canadian Authorities Permit Apple-Led Acquisition of Nortel Patents to Proceed

reuters reports canadian authorities have declined review $4.5 billion purchase of nortel's patent assets apple-led consortium, determining transaction not subject regulations regarding foreign investments.

quote

under investment canada act, government must review foreign investments book value of more c$312 million ($328 million) determine if of "net benefit" country.

while nortel patents' sale price exceeds threshold, book value may far lower. industry minister christian paradis said investment review officials had come conclusion sale not subject net benefit review after examining applicable rules , threshold values.

"based on information provided investor , nortel's 2010 audited financial statements, acquisition of nortel patents not subject review net benefit under act," paradis said in statement.

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bankruptcy courts in canada , united states have already approved transaction, has been said provide apple clear ownership of number of patents related lte cellular technology.

purchase may not entirely in clear yet, however, federal antitrust investigators have expressed concern on possibility google may have faced "unfair coalition" of companies in bidding patents.

article link: canadian authorities permit apple-led acquisition of nortel patents proceed

 

this big, folks. lead interesting moves consortium.

 

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