RIM cites national security concerns as Nortel bid thwarted

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Source: Globe and Mail

In a stunning display of industrial brinkmanship, Research In Motion Ltd. (RIM-T83.182.433.01%) is alleging that Nortel Networks Corp. shut it out of the bidding for the distressed telecom giant's nationally sensitive wireless assets.

It has thrown down a gauntlet to the federal government to review the auction for Nortel's assets – or lose technology considered vital for Canada's national security and industrial competitiveness.

In a combative statement issued Monday evening, Jim Balsillie, RIM's co-CEO, said restrictive conditions imposed on a potential bid by RIM are preventing his company from grabbing the torch dropped by Nortel as national champion in wireless technology.

“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,” Mr. Balsillie said in the statement.



Read more: http://www.theglobeandmail.com/globe-investor/rim-cries-foul-over-nortel-auction/article1225191/