Industry Minister Christian Paradis says he will not review Nortel Networks Corp.'s sale of patents and patent applications to a consortium of companies for $4.5 billion US. At the end of June, the Rockstar Bidco LP consortium of six companies—EMC, Ericsson, Sony, Apple Inc., Microsoft, and RIM Ltd.—successfully bid $4.5 billion US for 6,000 Nortel patent and patent applications. Paradis' office said early this month that he had “asked his officials to look into how the Investment Canada Act may apply" to the transaction. The Investment Canada Act states that the government reviews the purchase of a Canadian entity if the net value of the assets amounts to more than $312 million in book value. Paradis told The Canadian Press in a statement Tuesday that the sale will not be reviewed. "Investment review officials have examined the applicable rules and threshold values under the Investment Canada Act as they apply to Rockstar Bidco LP's proposed acquisition of Nortel's patents," Paradis told CP in the statement. "Based on the information provided by the investor and Nortel's 2010 audited financial statements, the acquisition of the Nortel patents is not subject to review for net benefit under the act."