Mergers and Acquistions News
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April 15th 2011, 16:21PM
Communications company Alcatel-Lucent is said to be on the lookout for possible buyers for the part of the business which sells phones to corporations.
The Wall Street Journal reported that the firm had hired advisers and begun to examine the options for the disposal of the section, which could be valued at more than $1.5 billion (£917 million).
Sources close to the matter told the news provider that the Franco-American company was exploring a number of options, including selling to a single buyer or an initial public offering.
Alcatel is looking to shed the profitable arm of the company as it accounts for less than ten per cent of revenue and does not "fit" with the company's main operation.
If sold the company would be provided with a windfall to invest in other operations, the news provider said.
Alcatel-Lucent was formed in 2006, when the two entities merged. The company new operated globally, and has an annual revenue of around €16 billion (£14 billion.)
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