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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Senate group offers $3.75 trillion deficit cuts 2:11pm EDT Israeli navy seizes Gaza-bound yacht 1:26pm EDT Murdoch attacked as defends self to UK parliament | 3:44pm EDT Highlights: Brooks apologizes to UK parliament over hacking | 3:23pm EDT Universal pulls plug on Stephen King's "The Dark Tower" 18 Jul 2011 Discussed 102 Obama asks lawmakers to gauge support for debt deal 62 Senate group offers $3.75 trillion deficit cuts 60 Fallback plan gains momentum in debt talks Watched Murdoch attacked in Parliamentary hearing 5:16pm EDT Pakistan Taliban releases video of mass execution Mon, Jul 18 2011 Flying sphere goes where man fears to tread Thu, Jul 14 2011 Canada won't block $4.5 billion sale of Nortel patents Tweet Share this Email Print Related News Canada won't review sale of Nortel patents 1:30pm EDT Exclusive: Apple tests new chips with TSMC Fri, Jul 15 2011 Apple chief patent lawyer leaving: sources Tue, Jul 12 2011 RIM could do better as two businesses: analyst Tue, Jul 12 2011 Courts OK Nortel patent sale to Apple/RIM group Mon, Jul 11 2011 Analysis & Opinion Itâ€™s time for a social network neutrality Tale of two defendants: HTC, Nokia fates diverged in Apple case Related Topics Technology » Media » Steve Jobs » OTTAWA | Tue Jul 19, 2011 2:11pm EDT OTTAWA (Reuters) - The Canadian government will not review the purchase of patents belonging to bankrupt Nortel Networks by a group that includes Apple Inc, Microsoft Corp and Research In Motion Ltd, the industry minister said on Tuesday. A consortium of these companies and EMC Corp, Ericsson and Sony Corp bid $4.5 billion to buy thousands of Nortel patents in a recent auction. 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. The Canadian and U.S. courts overseeing Nortel's bankruptcy proceedings approved the sale of the patents on July 11. The six-company group outbid Google Inc and other companies for the patents, and the winners could try to maximize their returns by taking competitors to court to seek damages for patent infringement. ($1=$0.95 Canadian) (Reporting by Randall Palmer and Louise Egan; editing by Peter Galloway) Technology Media Steve Jobs Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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