Nortel Networks Corp., the Canadian phone-equipment maker in bankruptcy protection, is open to selling some of its businesses, Chief Executive Officer Mike Zafirovski said.

“We have a number of plans which we’ve not disclosed externally, but we do believe in the next couple of weeks that those plans will become very, very visible,” Zafirovski told reporters after a hearing before the Canadian government today in Ottawa.

Nortel filed for bankruptcy protection in January in the U.S. and Canada after losing almost $7 billion in two years. Zafirovski, who is firing at least 5,000 workers this year, or 15 percent of the staff, said today he will announce a recovery plan in the coming weeks.

Nortel was unchanged at 19 cents at 4 p.m. in Toronto Stock Exchange trading. The stock has lost 98 percent of its value in the past year.

Bloomberg