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For BlackBerry, it is globalisation abroad and protectionism at home

Category :India Sub Category :National,Business
2009-08-06 00:00:00
   Views : 352

Toronto, Aug 6 - Preaching globalization abroad and protectionism at home. That seems to be the mantra of Canadian corporates.

BlackBerry maker Research In Motion (RIM) may have worldwide operations but at home it is preaching economic natonalism.

Shut out of the auction for Toronto-based Nortel's wireless business last month, RIM co-CEO Jim Balsillie sought government intervention to stop its sale to foreigners in 'national interest'.

The reason why the BlackBerry maker was shut out of the auction was its refusal to sign the non-disclosure agreements with Nortel which is selling its businesses piece by piece after suffering losses of $ 5 billion last and operating under bankruptcy protection since January.

The BlackBerry maker's nationalist card seems to be working.

After Swedish Ericsson's winning Nortel's wireless technology (called long-term evolution or LTE) with its $1.3 billion bid July 28, corporate and political pressure has forced the Canadian government to review the sale.

A Canadian parliamentary committee will hold an emergency meeting Friday to discuss the sale. The committee will hear top representatives from RIM, Ericsson, Nortel and industry about the implications of the sale for Canada.




Author :Gurmukh Singh



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