Not a fan of this company. The merger of Lucent (LU-N) and Alcaltel (AT-T) was approved so their competition is getting bigger. Doesn't think they have the financial resources for R&D.
If you own the stock, you are playing that there is some value in the assets they own. The company is not a going concern. Have a huge deficit hole in their pension plan. Individual parts of the company may be better being sold off.
Has about $4 per share in cash. They are thinking of selling an asset that would raise about another $1 billion, which would add another $2 per share in cash. However, the overall quality of the balance sheet is as bad as he has ever seen it. Speculative.