As was widely anticipated, Alcatel-Lucent is to rejoin the French blue-chip index CAC 40 on Dec. 23 in a move that reflects the continuing recovery of the telecoms equipment manufacturer after several torrid years.
There are growing indications that Alcatel-Lucent is increasingly reaping the benefits of its turnaround efforts with reports suggesting the equipment manufacturer could rejoin the France's blue-chip CAC 40 index next month.
Alcatel-Lucent has hatched a plan to raise $1.3 billion from its shareholders and $750 million from a high-yield bond that company CEO Michel Combes says will reduce debt and save the company, reports Reuters.
Alcatel-Lucent said it is seeking to raise around $2.7 billion in fresh capital via a combination of new shares and debt, as the equipment vendor takes advantage of a rising stock price and optimism that it will be able to reverse its business situation.
Alcatel-Lucent reported a narrower loss for the third quarter amid rising revenue. The results indicate that the vendor's massive new cost-cutting plan is starting to take hold as it tries to nurse itself back to health as a smaller company.
Alcatel-Lucent CEO Michel Combes warned that the company is facing a dire situation and that its recently announced job cuts and restructuring moves are necessary to keep the vendor afloat.
Alcatel-Lucent confirmed it will cut 10,000 jobs as part of its "Shift" reorganization plan aimed at slimming down the company as it seeks to become more of a specialist focused on IP networking, LTE and small cells and move away from investing in legacy technologies.
Alcatel-Lucent appointed Jean Raby as its new CFO and chief legal officer as it continues to plow ahead with a fresh restructuring and turnaround plan in a bid to get back in the black.
Michel Combes, Alcatel-Lucent's new CEO, has made his latest mark on the company by naming Jean Raby as the vendor's chief financial and legal officer.
Alcatel-Lucent named former banker Jean Raby as its new CFO and chief legal officer starting Sept. 1, as the equipment manufacturer continues its turnaround under new CEO Michel Combes.