Alcatel-Lucent (ALU +4%) is higher after Bloomberg reports the company's submarine optical cable...
Monday, January 14, 12:22 PM ETAlcatel-Lucent (ALU +4%) is higher after Bloomberg reports the company's submarine optical cable unit has received buyout interest; the business is estimated by one firm to be worth $1.1B and to have a 40% market share. P-E firms Permira (previous) and PAI Partners are said to be weighing bids, as is French sovereign wealth fund FSI. Also, France Telecom (FTE) has said it makes "industrial sense" to own the business - there's a good chance the French government is playing a role here. Alcatel has reportedly hired an i-bank to explore sales for other businesses. (Nov. report)
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