Nortel patent auction review

Industry Minister Christian Paradis has asked officials to review the Nortel patent auction.

Under the Investment Canada Act, deals involving foreign investors buying a Canadian business with assets worth more than $312 million are subject to review.

A consortium of companies, including Canada’s Research In Motion, Apple, Ericsson, Microsoft and Sony, paid more than $4.5 billion for more than 6,000 Nortel patents last week.

If there is a review, the sale has to prove to be a “net benefit” to Canada.