Technology giants are girding for a fight over the final remains of Nortel Networks Corp. in a liquidation sale that has the potential to shift the balance of power in the mobile communications market.
To begin Monday in New York, the auction-style sell-off is also certain to renew nationalist hand-wringing over the loss of Nortel to foreigners. The auction involves the sale to the highest bidder of the fallen tech star’s last major holding, a trove of 6,000 wireless-related patents.
Companies including U.S.-based Google Inc. and Apple Inc. as well as Sweden’s Ericsson AB are to take part in the auction that was delayed a week due to “a significant level” of buyer interest.
Google has already filed a “stalking horse” opening bid of $900 million (U.S.) for the package of patents, while sources said San Francisco-based patent service company RPX Corp. is fronting more than 80 companies interested in at least part of the holdings.
Chipmaker Intel Corp. and Waterloo’s Research In Motion Ltd. are also seen as possible bidders.
Nortel Networks filed for bankruptcy protection in early 2009, a day before the telecom hardware maker was to repay an interest obligation on bonds, which would have amounted to a fraction of its cash reserves.
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