BlackBerry maker Research in Motion Ltd. says Canadians want and expect the Canadian government to prevent the $1.1 billion sale of Nortel Networks Corp.’s coveted wireless assets to Sweden’s Ericsson.
Canada-based RIM issued a statement Wednesday after the deadline passed for appeals to challenge a bankruptcy court ruling allowing the Nortel sale to the Swedish telecommunications firm.
Rim, makers of the Blackberry
RIM said the transaction must be reviewed to ensure that Canada’s national interests are met and reiterated that it wants Canadian Industry Minister Tony Clement to help negotiate a deal between RIM and Nortel.
Rim, based in Waterloo Ontario
Canada’s Globe and Mail newspaper reported the sale would be evaluated by the government based on the $149 million balance sheet value of its assets, far too low to trigger a review under the Investment Canada Act.
LM Ericsson agreed last month to buy parts of Nortel’s wireless business for $1.1 billion. The deal is subject to approval by the Canadian government.
RIM released an online poll that said that more than half of Canadians want Ottawa to intervene in the sale of Nortel Networks.
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