Apple gets the green light to bid on Nortel’s patents

Antitrust regulators in the United States have given Apple Inc. (AAPL) the go-ahead to bid on Nortel Networks Corp.’s (NRTLQ) patent portfolio comprised of at least 6,000 patents. The company got the green light following a review at the Justice Department, Bloomberg reports.
Though Apple has the OK to bid, new reviews could arise if the company ends up on top of the bidding war for the bankrupt company’s patents. Earlier this week, Nortel delayed the auction to field a new level of interest from Apple and Intel Corp. (INTC). The two Silicon Valley giants entered the fray with Google Inc. (GOOG), which won approval for a stalking horse bid last month.. L.M. Ericsson (ERIC), RBX Corp. and Research In Motion Ltd. (RIMM) are also reportedly weighing bids for the bankrupt company’s portfolio that comprises 6,000 patents. Ericsson purchased Nortel’s wireless-equipment business for $1.13 billion in 2009, beating out Nokia Siemens Networks and others.
The auction is currently set for June 27. Nortel’s patent portfolio has a heavy play in mobile technology so it was expected to generate a lot of interest, even at the final hour. Google’s bid of $900 million has to be beat by at least $29 million to be considered.