Conservatives face test on foreign investment rules

The sale of certain assets of insolvent Nortel Networks Corp. assets to offshore investors is likely to be an acid test for the federal Conservative government and whether it is serious about revamping foreign investment and competition rules.

The issue of national security interests will rear its head, with Washington having an influential voice in terms of what Nortel deals fly. The prevailing wisdom among certain analysts is that Nortel will eventually emerge from court-ordered bankruptcy protection as a smaller entity with some of its assets, such as the metro Ethernet business, sold to the highest bidders. More...

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