Nortel Considers Share Reversal
February 16th, 2006 Posted in Main Page, Nortel Networks
Nortel, which has a kazillion shares outstanding (actually close to 4.9 billion if a class-action lawsuit settlement plan goes through) is thinking about a reverse stock split to revive its stock price, which is struggling below $4. Shareholders may get to vote on the proposal at the company's AGM in May. Nortel also disclosed compensation packages for its senior executives, including CEO Mike Z.
February 16th, 2006 at 5:50 pm
Great idea! Rather than tackling the difficult task of turning around the company, we'll just reverse split and just maybe the stock will double in price. Or not!
-Randy
P.S. not joking!