first_imgOnce a giant in the telecom business, Nortel‘s well-documented slide seemed to be coming to somewhat of a close recently. With a massive collection of more than 6,000 patents on the line, a consortium consisting of Microsoft, RIM, Apple, Sony, Ericsson, and EMC outbid Google with a final offer of $4.5 billion. It was expected that the transaction would be finalized sometime this fall, though there might now be an additional hurdle to overcome.Nortel is a Canadian company, so those 6,000 patents may require a little investigation by Industry Minister Christian Paradis. The sticking point will be whether or not the Investment Canada Act is applicable in this case. The Act stipulates that any transaction involving foreign investors that are purchasing more than $312 million in any Canadian business’ assets must show a net benefit for Canada in order to receive regulatory approval.AdChoices广告If Minister Paradis determines the Act applies, the deal must be determined to offer a “net benefit” or it could be nullified by Ottawa. In the last year, 441 acquisitions by foreign investors took place in Canada and only 17 were subject to review. One such bid led to the scuttling of Australian mining concern BHP Billiton’s attempt to purchase Saskatchewan-based Potash Corp. — though in that case the company itself withdrew the bid after struggling with the approval process.In the case of the Nortel patent pool, the consortium will pursue approval doggedly, as its members don’t want to risk losing the patents to Google. There’s no doubt Google would be more than happy to wager another mathematical constant as a dollar value should it have a second chance to secure the Nortel booty.More at CBClast_img read more