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

MacRumors

macrumors bot
Original poster
Apr 12, 2001
47,584
9,377





Reuters reports that Canadian authorities have declined to review the $4.5 billion purchase of Nortel's patent assets by an Apple-led consortium, determining that the transaction is not subject to certain regulations regarding foreign investments.
Under the Investment Canada Act, the government must review foreign investments with a book value of more than C$312 million ($328 million) to determine if they are of "net benefit" to the country.

But while the Nortel patents' sale price clearly exceeds that threshold, the book value may be far lower. Industry Minister Christian Paradis said investment review officials had come to the conclusion that the sale was not subject to a net benefit review after examining the applicable rules and threshold values.

"Based on the information provided by the investor and Nortel's 2010 audited financial statements, the acquisition of the Nortel patents is not subject to review for net benefit under the Act," Paradis said in a statement.
Bankruptcy courts in Canada and the United States have already approved the transaction, which has been said to provide Apple with clear ownership of a number of patents related to LTE cellular technology.

The purchase may not be entirely in the clear yet, however, as federal antitrust investigators have expressed concern over the possibility that Google may have faced an "unfair coalition" of companies in the bidding for the patents.

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

Caspercdn

macrumors newbie
Apr 2, 2010
3
0
Pay attention editors...

The Canadian dollar is worth $1.05 to the US dollar. Not the other way around...
Also Q, isn't Google buying patents too? I suspect all will live healthy lives.
 

*LTD*

macrumors G4
Feb 5, 2009
10,703
1
Canada
The Canadian dollar is worth $1.05 to the US dollar. Not the other way around...
Also Q, isn't Google buying patents too? I suspect all will live healthy lives.
Buying patents from whom?

Seems there aren't many left to buy at the moment, especially after the Nortel sale. Google's competitors seem to own a lot of the critical ones.
 

Caspercdn

macrumors newbie
Apr 2, 2010
3
0
Google and Apple are two of many bidding on buying up Nortel's patents. (EMC, Ericsson, Microsoft, RIM and Sony)
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.