U.S. and Canadian judges yesterday approved the acquisition of Nortel's 6000 patent by a group including Apple, Microsoft and RIM, for $ 4.5 billion. This is an amount three times larger than the estimates of analysts according to Reuters who reports the news. In January 2009, Canada's Nortel Networks has filed for bankruptcy and filed for bankruptcy.
North American judges have so over the business and oversee the liquidation of its assets. Nortel telecommunications technologies had very important and Google caused a stir when it first announced its intention to redeem $ 900 million. A consortium to address the search engine was immediately created.
Bidco LP called Rockstar, it consisted of EMC, Ericsson, Sony, Microsoft and RIM. Apple, which had its own way to the start of the auction, decided to join him. Last July, the group had emerged victorious after an offer of $ 4.5 billion (about 3.15 billion euros), which is a very large sum for such cases.
Verizon, U.S. operator, and HP had nevertheless asked judges not to approve the transaction because they feared that the transfer of patents cancels licensing agreements signed with Nortel before it goes bankrupt. In addition, market regulators had asked judges to ensure that there would be no abuse of dominant position.
The justices have ensured that the contracts signed with Nortel were still valid and the court said that the U.S. rejection of the offer of Rockstar Bidco is a big mistake. The money will be distributed to creditors of Nortel was able to raise a total of $ 8 billion.
North American judges have so over the business and oversee the liquidation of its assets. Nortel telecommunications technologies had very important and Google caused a stir when it first announced its intention to redeem $ 900 million. A consortium to address the search engine was immediately created.
Bidco LP called Rockstar, it consisted of EMC, Ericsson, Sony, Microsoft and RIM. Apple, which had its own way to the start of the auction, decided to join him. Last July, the group had emerged victorious after an offer of $ 4.5 billion (about 3.15 billion euros), which is a very large sum for such cases.
Verizon, U.S. operator, and HP had nevertheless asked judges not to approve the transaction because they feared that the transfer of patents cancels licensing agreements signed with Nortel before it goes bankrupt. In addition, market regulators had asked judges to ensure that there would be no abuse of dominant position.
The justices have ensured that the contracts signed with Nortel were still valid and the court said that the U.S. rejection of the offer of Rockstar Bidco is a big mistake. The money will be distributed to creditors of Nortel was able to raise a total of $ 8 billion.
- Nortel resolves main objections to patent sale (11/07/2011)
- Nortel bondholders must have big toothy grins (11/07/2011)
- Courts approve sale of Nortel patents to Apple, others (11/07/2011)
- US, Canadian courts OK Nortel patent sale to Apple-led group (11/07/2011)
- Nortel $4.5-Billion Patent Sale Approved (11/07/2011)
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