Apple receives regulatory approval for Nortel bid

Apple has received approval from U.S. antitrust regulators to bid for the assets of now-bankrupt Nortel Networks, according to a statement released by the Justice Department. Citing a person familiar with the situation, Bloomberg reports that the Antitrust Division of the Justice Department reviewed and approved Apple’s request to bid for a number of the defunct company’s patents, although it will continue to review any anticompetitive issues that could arise if an agreement is reached. Reuters reported last December that Apple was expected to bid on the patents, which pertain to third- and fourth-generation wireless technology such as Long Term Evolution (LTE), optical and data networking, Internet video, Internet advertising, voice technologies, and personal computers.