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This is what we are reduced to with Nokia – discussions of break-up value and liquidity concerns.

Investec Bank recently put the break-up value of CWW at £2.5bn, saying its UK network and customer base could be worth £1bn, its data centres £350m, its network of global subsea cables £650m and a further £500m for accumulated losses which can be used to reduce tax bills.

Aer Lingus has break-up value 1.27 billion euros, the CEO said, and a market capitalization of 342 million euros.

Investors instead will be zeroed in on the break-up value of the company.

A Reuters Insider analysis suggests a break-up value for DST at above $70 per share.