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Alcatel-Lucent Message Board

  • alexandre_telephone alexandre_telephone Oct 21, 2013 5:41 AM Flag

    Bloomberg $2.7bn wireless unit

    Nokia Oyj’s sale of its handset business is clearing the way for a 2 billion euro ($2.7 billion) takeover of Alcatel-Lucent SA’s wireless network-equipment unit.

    With Nokia receiving 5.44 billion euros next year for selling its handset unit to Microsoft Corp., the company’s cash is set to exceed 14 billion euros, its highest balance on record and the eighth-most among non-finance companies in Europe, according to data compiled by Bloomberg. At the same time, Alcatel-Lucent Chief Executive Officer Michel Combes is accelerating plans to scale down, including selling assets, to help the unprofitable French company survive.

    “This deal makes complete sense,” Sami Sarkamies, a Helsinki-based analyst at Nordea Bank AB, said in a phone interview. “Nokia will have the financial flexibility to do this kind of deal and Alcatel needs to slim down. There is a relatively high likelihood of this deal happening.”

    Sentiment: Strong Buy

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