Update: Alcatel, Lucent shareholders approve merger
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Shareholders of Alcatel SA and Lucent Technologies Inc. approved the companies' merger plansÂ Thursday, clearing one of the last hurdles to a mammoth consolidation in the communications equipment business.
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Alcatel  has signed a  preliminary agreement to buy Nortel's  third-generation  cell phone network unit for $320 million, aiming to achieve  greater scale amid cut-throat price competition.
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InfoWorld - Alcatel-Lucent reported higher sales but a net loss for the fourth quarter due to a big writedown in its CDMA (code division multiple access) and IP (Internet protocol) multimedia services businesses.
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Alcatel-Lucent starts helping BT customers who have begun migrating from the company's legacy telephone network
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France's Alcatel SA completed its $11.6 billion acquisition of Lucent Technologies Inc. on Thursday, creating a new leading global telecom equipment maker, the companies said in a statement.
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(InfoWorld) - Lucent Technologies has averted a potentially embarrassing delay of its shareholder vote on a merger with Alcatel,Â settling two suits by shareholdersÂ who said the deal doesn't maximize shareholder value. Lucent and AlcatelÂ agreed in April to mergeÂ into a global communications vendor that would have about $25 billion in annual revenue. Both companies plan to hold shareholder votes to approve the deal on Thursday. Plaintiffs in Resnick vs. Lucent Technologies Inc. wanted to postpone Lucent's vote, and the company was due at a hearing Wednesday in the Superior Court of New Jersey in Union County to fight that move. Another group of shareholders pursuing a similar suit, Asa R. Maley Trust vs. Lucent, also would have joined the hearing. Now Lucent won't have to face the danger of a legal entanglement the day before its planned vote. Both suits were intended as class actions on behalf of owners of Lucent stock. Terms of the settlement Lucent reached with them will be disclosed later, the company said in a filing to the U.S. Securities and Exchange Commission on Friday. The Lucent-Alcatel deal would be one of the biggest shifts yet in the consolidation of both service providers and vendors in the telecommunications industry. Both the U.S. Federal Trade Commission and the European Commission have approved the plan, but it still faces opposition from some investment firms and needs the blessing of the Committee on Foreign Investment in the U.S. Lucent is based in Murray Hill, New Jersey. The merged company, to be called Alcatel Lucent, would have its headquarters in Alcatel's base of Paris. Â ADVERTISEMENTMAKE SOA REAL WITH IBM WEBSPHERE PODCASTStreamline processes and maximize efficiency within a proven service oriented architecture. Take back control of your business processes with IBM WebSphere.
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Alcatel-Lucent, a global communications giant with combined annual revenue of more than US$24 billion, will debut Friday after a sometimes rocky engagement between Alcatel SA and Lucent Technologies Inc.
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French-US telecom equipment maker Alcatel-Lucent announced a joint venture with Japanese group NEC on Tuesday to develop ultra-high-speed mobile phone technology.
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The Justice Department yesterday approved the $41 billion merger of Cingular Wireless LLC and AT&amp;T Wireless Services Inc., requiring the combined company to sell off some assets in 11 states in order to satisfy antitrust concerns.
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SAN ANTONIO -- Clear Channel Communications Inc. shareholders have approved a $19.5 billion buyout of the radio giant, more than 10 months after the deal was proposed, the company announced Tuesday.
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Alltel Corp. shareholders overwhelmingly approved a $24.7 billion buyout Wednesday that put the wireless company in the hands of two private investor groups.
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Freshly merged Alcatel-Lucent  is stepping up job cuts to 12,500 after lurching into a fourth quarter loss and forecast a first-quarter sales dip as tough trading and uncertainties from the tie-up take their toll.
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(InfoWorld) - Alcatel-Lucent, a global communications giant with combined annual revenue of more than US$24 billion, will debut Friday after a sometimes rocky engagement between Alcatel SA and Lucent Technologies Inc. The deal closed Thursday,Â about eight months after it was announcedÂ and followingÂ national security concerns,Â investor lawsuitsÂ and one close shareholder vote. On Friday, the company is set to begin trading on the Euronext Paris exchange and the New York Stock Exchange under the ticker symbol ALU. Both companies were among the largest suppliers of wired and wireless infrastructure, and the combined entity boasts impressive statistics: 79,000 employees in 130 countries, about 23,000 of whom work in research and development, a services team of more than 18,000, and customer relationships with the 100 largest service providers in the world. The consolidation comes as carriers, the consumers of telecommunications gear, also combine into fewer and bigger entities. The new company will be incorporated in France and based in Paris but run by Chief Executive Officer Patricia Russo, the American outgoing chief of Lucent. Alcatel head Serge Tchuruk is a non-executive chairman of the board. Both were appointed Thursday. Bell Labs, Lucent's venerable research unit, will remain in New Jersey and a special business will be set up to handle sensitive U.S. government contracts. Alcatel will sell its satellite business to ease national security concerns in France. The deal came under fire from some investment firms and shareholders. In September, Lucent settled two proposed class-action lawsuits by investors that threatened to delay its shareholder vote, and the deal then passed with less than 52 percent of the vote. The last key hurdle was approval by the U.S. Committee on Foreign Investment In the U.S. (CFIUS), which earlier this month signed off on the deal on the condition that the companies execute national security agreements with certain U.S. government agencies. Alcatel-Lucent expects to gain significant savings within three years from cutting about 9,000 jobs, consolidating support functions, optimizing its supply and procurement system and leveraging its research and services operations across a larger base. The company will discuss the news on a webcast on Friday at 1 p.m. Central European Time (12 p.m. GMT).
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Alcatel shareholders have been urged by a French advisory group to reject the proposed merger with Lucent Technologies SA, citing unfavorable financial and corporate governance terms.
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French-American telecoms equipment group  Alcatel-Lucent  said on Monday it had won a contract  from Germany's VSE NET to build the country's "first  commercial" WiMAX network in the Saar region bordering France.
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The $41 billion merger between Cingular Wireless LLC and AT&T Wireless Services Inc. won approval from the Federal Communications Commission Friday, according to federal sources close to the agency.  -The Washington Post
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Shareholders of digital mapmaker Navteq Corp. approved the company's acquisition by cell-phone maker Nokia Corp. by an overwhelming majority Wednesday at a special meeting.