Nortel Networks Corp. (NRTLQ) is delaying the auction of its patent portfolio to field a new level of interest from the likes of Apple Inc. (AAPL) and Intel Corp. (INTC). The two Silicon Valley giants have entered the fray with Google Inc. (GOOG), which won approval for a stalking horse bid last month, according to Bloomberg and The Wall Street Journal. L.M. Ericsson (ERIC), RBX Corp. and Research In Motion Ltd. (RIMM) are also weighing bids for the bankrupt company’s portfolio that comprises 6,000 patents.
The auction, which was set to take place today, has been pushed back a week to June 27 to accommodate more bids. 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.
Apple, Intel reportedly vying for Nortel patents
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