Now this is something I didn’t expect: Research in Motion wants to make a bid for Nortel’s CDMA and LTE businesses but it was told by Nortel and its legal advisors that it could only get involved if RIM agreed not to submit offers for other Nortel assets for a year. (Source: Globe & Mail).
RIM, which makes the popular Blackberry smartphones, said it was prepared to bid about $1.1-billion.
“RIM remains extremely interested in acquiring Nortel assets through a Canadian ownership solution that would serve the dual purpose of keeping key wireless technologies in Canada and extending RIM’s leadership in the research, development and distribution of leading edge wireless solutions, but RIM has found itself blocked at every turn,” said Jim Balsillie, RIM’s co-chief executive officer, who earlier this year unsuccessfully attempt to buy the NHL’s Phoenix Coyotes. Balsillie went on to say that RIM is “extremely disappointed that Nortel’s world leading technology, the development of which has been funded in part by Canadian taxpayers, seems destined to leave Canada and that Canada’s own Export Development Corporation is preparing to help by lending $300 million to another bidder. RIM remains extremely interested in acquiring Nortel assets through a Canadian ownership solution that would serve the dual purpose of keeping key wireless technologies in Canada and extending RIM’s leadership in the research, development and distribution of leading edge wireless solutions, but RIM has found itself blocked at every turn.”
The big question is why RIM wants to get into the wireless equipment market, particularly the slow-dying CDMA business. More: Here’s RIM’s press release.
The only way to steal assets legally is to do just what NT's management is doing. Get the court to put crazy conditions on any sale of assets.
Do you really think the foreign ownership will have a priority to keep jobs in Canada or to save pensions. They will say the do do appeas the sheeple but I'm afarid money talks louder than words.
RIM Wants In On Nortel’s Wireless Auction
Now this is something I didn’t expect: Research in Motion wants to make a bid for Nortel’s CDMA and LTE businesses but it was told by Nortel and its legal advisors that it could only get involved if RIM agreed not to submit offers for other Nortel assets for a year. (Source: Globe & Mail).
RIM, which makes the popular Blackberry smartphones, said it was prepared to bid about $1.1-billion.
“RIM remains extremely interested in acquiring Nortel assets through a Canadian ownership solution that would serve the dual purpose of keeping key wireless technologies in Canada and extending RIM’s leadership in the research, development and distribution of leading edge wireless solutions, but RIM has found itself blocked at every turn,” said Jim Balsillie, RIM’s co-chief executive officer, who earlier this year unsuccessfully attempt to buy the NHL’s Phoenix Coyotes. Balsillie went on to say that RIM is “extremely disappointed that Nortel’s world leading technology, the development of which has been funded in part by Canadian taxpayers, seems destined to leave Canada and that Canada’s own Export Development Corporation is preparing to help by lending $300 million to another bidder. RIM remains extremely interested in acquiring Nortel assets through a Canadian ownership solution that would serve the dual purpose of keeping key wireless technologies in Canada and extending RIM’s leadership in the research, development and distribution of leading edge wireless solutions, but RIM has found itself blocked at every turn.”
The big question is why RIM wants to get into the wireless equipment market, particularly the slow-dying CDMA business. More: Here’s RIM’s press release.