OnLive shares "highly likely" to be written off, says BT

OnLive's acquisition-driven bankruptcy may cause stakeholders to lose their shares in the original company. A representative for British Telecom, which held a 2.6% stake, told TechRadar that it's "highly likely" the company will have to "write off" the investment, but added that the amount "does not represent a significant investment for BT as a whole". OnLive will reform as a brand new company, rehiring some core staff, while the rest have been let go.

Thanks, Joystiq.