Alcatel-Lucent, Alcatel-Lucent sells enterprise unit to China, Technology Times

Alcatel-Lucent sells enterprise unit to China

Alcatel-Lucent sells enterprise unit to China

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Alcatel-Lucent, a global leading communications and networking solutions for businesses said it has completed the sale of its subsidiary, Alcatel-Lucent Enterprise to China Huaxin Post & Telecommunication Economy Development Centre, with a receipt of €202 million cash proceeds.

Alcatel-Lucent will still retain a 15% minority stake in the divested business, as well as maintaining a commercial relationship with it in support of its growth ambitions under new ownership.

The divestment forms part of Alcatel-Lucent’s commitments under The Shift Plan, which it launched in June 2013, to refocus itself as a specialist in IP, Cloud and Ultra-Broadband Access, while realigning its balance sheet, implementing cost savings of Euro 1 billion and generating at least Euro 1 billion through selective asset sales by the end of 2015.

China Huaxin Post & Telecommunication Economy Development Center is an industrial investment company that seeks long-term commercial growth opportunities in the Information and Communications Technologies (ICT) sector.

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929