France: Alcatel-Lucent to Sell Its Submarine Cable Business

Alcatel-Lucent has announced the intention to sell its submarine cable business and a unit that supplies telephone systems to big companies, Reuters reported.

According to Goldman Sachs analysts, the sale of the two businesses could raise up to 400 million euros.

Alcatel-Lucent’s submarine business potential buyers could include Nexans, or Prysmian.

As Reuters reports, the business manufactures, installs and maintains the undersea cables that link continents to transfer phone and internet traffic.

Also possible bidders for the telephone business are Canada’s Mitel and Siemens Enterprise Communications.

[mappress]
Subsea World News Staff, November 06, 2012