Canada Clears $1.1B Nortel-Ericsson Sale

Law360, New York (September 17, 2009, 3:35 PM EDT) -- The Canadian government has said it will not step in to review the CAD$1.2 billion ($1.13 billion) bankruptcy sale of Nortel Networks Corp.'s wireless assets to Telefonaktiebolaget LM Ericsson, concluding that the value of the assets is too small to trigger an investigation.

The sale does not meet the threshold for a review under the Investment Canada Act, according to Canada's Minister of Industry Tony Clement, who praised the deal for its potential to spur Canadian competition in global technology markets.

The current threshold for review...
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