I'll take this with a grain of salt. To this day Bloomberg still stands by its "The Big Hack" article (Supermicro, Amazon, and Apple being hacked with the tiny Chinese chip), containing claims that have been thoroughly refuted (and ridiculed) since then, and about which even their own sources were very incredulous. The CEO of Apple called it "100 percent a lie", which is a very harsh word in this context. Those were lower standards than the ones we're held to when commenting here on HN.
I don't know how that article came to be but such precedent puts their tech articles into serious question. Obviously such articles about major Chinese interference and hacks are great with the readers and get a lot of attention. But while the premise may be true (the Chinese hack most likely happened), the implications and the interpretation of the reporter are on shaky ground.
I don't have any further evidence but I'd say that Bloomberg may be pandering to the readers and giving them what they want to hear during these times. And if I were Bloomberg reporters Jordan Robertson or Michael Riley I'd say that even if my sources denied it.
Nortel without the IP theft was certainly on shaky ground.
It sounds like the IP gave Huawei an opportunity to catch up more quickly and with Chinese govt cash, pull the rug out from under Nortel.