As Nokia Teeters, What's It Worth? - WSJ.com

A time for big decisions at Nokia (and potential acquirers)

"BMO isn't alone in assigning zero value to the company's core mobile phone business. Analysts at Canaccord Genuity also give no credit to the money-losing operation. Some other banks have more optimistic assessments, including Nordic bank Nordea, which values the phones business at $3.5 billion.
On Friday, Moody's Investors Service slashed Nokia's credit rating to junk, citing worries about its cash position and slow sales of new Windows-based phones. Credit rating firms Standard & Poor's and Fitch Ratings made similar moves in April."

As Nokia Teeters, What's It Worth? - WSJ.com