RIM Disappointed in Nortel Block
We reported yesterday on Research In Motion being blocked from purchasing Nortel assets, (see here). Well Research In Motion has now put out a statement on that blocking and are somewhat disappointed.
RIM wanted Nortel’s CDMA and LTE operations along with a few other assets and was willing to hand over $1.1 billion US bucks for the privilege, with Nortel stating RIM can’t bid for any more assets for a year.
RIM co-CEO, Jim Balsillie says RIM is very disappointed that Nortel assets seem destined to leave Canada when it is Canadian taxpayers who have funded in part Nortel development, and that RIM believes this should remain in Canada and Canada’s Export Development Corporation who is helping another bidder to the tune of $300 million is making it difficult.