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Nortel’s Market Cap Sinks Below $1-billion
By Mark Evans | October 3, 2008
Nortel shares slipped to $2.01 earlier this afternoon, giving the company a market cap of less than $1-billion ($997.7-million to be exact).
To be things in contrast, Nortel had a market cap of $398-billion at the height of the telecom boom in September, 2000.
Question: Is Nortel ripe for the picking? Putting aside the $4.5-billion of debt and the money-losing businesses, does it make sense for someone to snap up Nortel given its declining value?
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