Canada won't block $4.5 billion sale of Nortel patents

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.

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.