Canada To Review Nortel-Ericsson Sale: Report

Law360, New York (August 12, 2009, 2:55 PM EDT) -- The Canadian government plans to examine the proposed $1.13 billion sale of Nortel Networks Corp.'s wireless assets to Ericsson, the Canadian prime minister told reporters Tuesday, while resisting calls to consider protectionist policies.

Canadian Prime Minister Stephen Harper said the deal stemming from Toronto-based Nortel's bankruptcy proceeding would be reviewed, but rejected arguments in favor of measures aimed at keeping the wireless assets in Canadian hands.

"This transaction will be examined under the Investment Canada Act. There is a process in place to ensure that the...
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