Alcatel-Lucent is following through on its previously reported intention to sell a stake in Thales, its defense technology unit, to fellow French company Dassault Group for $1.9 billion. That will buy Dassault a 20.8 percent piece of Thales. The move could help Alcatel-Lucent as it continues in financial recovery mode, and the deal apparently helped goose the company's stock price a bit yesterday. Even though it's just a minority stake in a property that isn't exactly core to Alcatel-Lucent, some observers are seeing it as more evidence that new CEO Ben Verwaayen is not hesitant to make decisive moves early in his tenure.
For more:
- The Wall Street Journal reports [1]
Related articles
Alcatel-Lucent recently reduced its loss [2]
Verwaayen took the CEO job in September [3]
Links:
[1] http://online.wsj.com/article/SB122700026910136869.html?mod=googlenews_wsj
[2] http://www.fiercetelecom.com/story/alcatel-lucent/2008-10-30
[3] http://www.fiercetelecom.com/story/ex-bt-boss-takes-over-alca-lu/2008-09-02