Intel and Rockstar Bidco Win Approval to Bid on Nortel Assets

US antitrust regulators have given approval to Intel Corp. and Rockstar Bidco LP to bid on the assets of bankrupt Nortel Networks Corp. The approval comes as the bidding process is being reviewed by the antitrust division of the Justice Department. Apple Inc. has also been given similar approval to bid on Nortel's patents in an auction set for Monday.

Key Takeaways:

• The Federal Trade Commission has named Intel and Rockstar Bidco LP as approved bidders for Nortel's assets.
• The bidding process is being reviewed by the antitrust division of the Justice Department.
• Apple Inc. has also been approved to bid on Nortel's patents in an auction set for Monday.
• Nortel has agreed to sell about 6,000 patents to Google Inc. for $900 million unless a competitor bids more.
• BlackBerry smartphone maker Research In Motion Ltd. and Ericsson AB are also weighing bids.
• RPX Corp., a patent-buying firm, is considering a bid.

Statistics:

• 6,000: The number of patents that Nortel is selling at auction.
• $900 million: The price that Google Inc. was willing to pay for Nortel's patents.
• 2009: The year in which Nortel Networks Corp. filed for bankruptcy.

Sources:

• Bloomberg News
• 2011 Toronto Star
• Reuters