Feds Probe Bids for Nortel Patents

Loading...
Loading...
The
Wall Street Journal
is reporting that the U.S. Justice Department (DOJ) is looking into prospective bidders, including Google
GOOG
and Apple
AAPL
, for patents from bankrupt Canadian telecom-equipment maker Nortel Networks. As part of its bankruptcy proceedings, Nortel is offering some 6,000 patents for technology that includes wireless video, wi-fi, and LTE mobile data technology. The concern is that the patents could be used to hamper competition in the wireless industry, according to the report. The DOJ's anti-trust unit is reviewing Google's $900 million opening bid from April for the Nortel patents. Courts in the U.S. and Canada have approved Google's offer, but other interested buyers have until June 20 to make counterbids. Apple, Nokia
NOK
and Research In Motion
RIMM
are among companies rumored to be planning to bid, and Apple has been talking with the DOJ about its concerns. So far the agency has no major concerns about the Google bid, according to a source familiar with the matter.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsTechAppleCommunications EquipmentComputer HardwareGoogleInformation TechnologyInternet Software & ServicesJustice DepartmentNokiaNortel NetworksResearch in Motion
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...