Nortel Faces NYSE Delisting

Could the end of the year also be the end of Nortel Networks (NT)? We certainly hope not, but circumstances aren’t looking good for the telecom equipment maker.

A day after reports circulated that Nortel is eyeing bankruptcy, the company received notice from the New York Stock Exchange it’s in danger of being delisted. Nortel now is considering consolidating its shares. It has six months to pull its stocks above the $1 mark.

Nortel’s stock has traded below $1 for some time. Its 52-week high is $17.03; the low is 37 cents. Shares closed at 40 cents on Thursday.

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