We doubt Nortel can emerge from bankruptcy and see a high likelihood that the company will sell all its units and cease operations. There is a chance, in that instance, that equity holders could receive some portion of the breakup proceeds.
The good news, if any, is that "Nortel is in a better position to sell its parts now than it has been since first publicly contemplating dispositions last September," analyst Jim Kelleher writes in the report.
The Decline & Fall of Nortel Networks continues.
— Phil Harvey, Editor-in-Chief, Light Reading