(Reuters) - Eastman Kodak, which is planning to auction 1,100 digital patents, received two bids from investor groups including Apple Inc and Google Inc of between $150 million and $250 million, the Wall Street Journal reported on Monday.
Bankrupt Kodak is selling the patents, which it believes could be worth $2.6 billion, in order to repay creditors. The company filed for Chapter 11 protection in January after failing to keep up as consumers and rivals shifted to digital photography from film photography.
A spokesman for Kodak could not immediately be reached on Monday.
Bids can rise quickly in bankruptcy auctions. Nortel Networks Inc in 2011 sold its patent portfolio for $4.5 billion after initial bids came in at just $900 million.
Kodak's auction is slated to begin on Wednesday morning.
(Reporting By Nick Brown; Editing by Richard Pullin)
Earlier on HuffPost:
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