NORTEL SALE GETS ALL CLEAR

The federal government will not interfere in the $1.13 billion (U.S.) sale of Nortel Networks Corp.'s wireless assets to Swedish wireless giant Ericsson, Industry Minister Tony Clement said yesterday... Karl Moore, an associate professor at McGill University's Desautels Faculty of Management, said Ericsson is a great company that is heavily involved in Canada. However, he bemoaned the government's decision not to intervene. "Nortel was one of Canada's great global competitors at one point ... It's disappointing that we've lost one of our great, global champions," he said, pointing to the loss of several previously Canadian-owned companies, such as Alcan, to foreign companies.

Toronto Star, September 17, 2009