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Electronics Production | August 07, 2009

Canadian parliamentary committee to review Nortel-Ericsson-Deal

A Canadian Parliamentary committee will hold an “emergency” hearing today (August. 7th, 2009) to review the sale of Nortel assets to Sweden-based mobile phone giant Ericsson.
It is said that witnesses from Nortel, Ericsson, RIM and the Canadian industry department (which may review the sale to Ericsson under the Investment Canada Act) will be heard, Bloomberg reported.

Should a review be initiated, Ericsson will have to prove that the sale will also provide net benefits to Canada, despite the fact that the sale has already been approved both by U.S. and Canadian bankruptcy courts on July 28.

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