Nortel is selling off its valuable wireless units to Nokia Siemens as it dismantles its bankrupt operations. Nortel was a high flyer during the dot-com boom days but was unable to weather the telecom industry tailspin. The global recession was the final straw for the beleaguered company.
“It is a crowded space right now that has been undergoing a severe consolidation for a while. So yes, the value is there, I would agree with that.”
Still, Testa couldn’t help but note “how low the mighty have fallen.”
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