Nortel: Canadian Lawmakers Will Review Pending Sales

We are probably looking at a case of “too little, too late.”

Members of a Canadian Parliamentary committee said Wednesday they will hold emergency hearings on the sales of Nortel Networks Corp. (NT) assets to companies based in other countries.

But pensioners, bloggers and people who care about Nortel keeping its Canadian roots, have all been calling for this very action for … months. Now, as Nortel’s wireless unit is about to be handed over to Finland-based Ericsson and the enterprise division stands to go to Avaya or Siemens, why would lawmakers wait this long?

“This is just political posturing,” writes Mark Evans, over at All About Nortel.

Evans says the Ericsson sale won’t be stopped because the CDMA business “isn’t worth the hassle.” Plus, Ericsson employs more than 2,000 people in Canada, which rather negates arguments over jobs and R&D investment. And then Evans says what we’re all thinking: “If the federal government really wanted to protect Nortel, it would have provided financial support months ago.”

Not to mention, in a global economy where foreign companies buy one another or merge all the time (think Alcatel-Lucent as a prime example), it seems fair to wonder why Canada thinks it’s exempt from the momentum.

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