Shareholders Bless Alcatel, Lucent Union
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Alcatel and Lucent Technologies Inc have stepped further down the aisle after their shareholders separately voted in favor of their proposed union whereby the French telecom gear maker would buy its US rival for about $10.9bn.
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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.The company said revenue rose 18 percent to &#8364;5.2 billion on the back of strong performance at several of its major business units. But despite the stronger sales the company saw its net profit plunge into the red to the tune of &#8364;2.6 billion. This was largely due to the &#8364;2.5 billion writedown.Its wireline and wireless carrier business was strong and revenues were &#8364;3.7 billion in the quarter against &#8364;3.2 billion during the same period a year earlier. The company benefited from strong growth in carrier-type optical networking, and the GSM (Global System for Mobile Communications) and WCDMA (Wideband CDMA) sectors. Broadband access revenue fell on the back of a decline in the number of DSL lines delivered.Revenues were up 27 percent in the services business to &#8364;1 billion after the company won large network operations contracts and worked on IPTV and IP network integration projects. Its enterprise business segment saw revenues of &#8364;435 million, up about 4 percent, thanks to strong momentum in Europe and Asia.The report came with bad news for investors. The company suspended its dividend payment for 2007 &quot;in the light of these results and or a more uncertain market outlook,&quot; it said.&quot;We just thought very plainly that it was good financial discipline looking at both our net income in &#39;07 and the very tough macroeconomic environment,&quot; said Hubert de Pesquidoux, chief financial officer, on a conference call.CEO Patricia Russo warned that the company doesn&#39;t have a positive short-term outlook, particularly with a looming recession in the U.S. given Alcatel-Lucent&#39;s dependance on business there.&quot;There is a level of uncertainty ... that leaves a lot unknown,&quot; Russo said.Despite interest in IP networking and 3G broadband services, growth over the next year is likely to be flat or just slightly up, Russo said. Taking into account currency differences, the market will likely be down, she said.Some customers are also pursuing network-sharing arrangements, which could affect how much those companies spend on their own infrastructure, she said.Russo defended the&#160;2006 merger of Alcatel and Lucent&#160;and said the company is still trying to reduce costs. So far, about 6,700 employees have been let go in&#160;a restructuring plan&#160;that will shed a total of 12,500 employees, she said.
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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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In the long run, happy patients make happy shareholders.
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E-Plus, the German mobile phone unit of Dutch telecoms giant KPN, said Tuesday that it has signed an agreement for Alcatel-Lucent to take over a number of its network divisions.
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Alcatel disputed criticism about its planned takeover of Lucent and insisted that the deal would be good for shareholders.
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The job cuts are in addition to 12,500 cuts announced in February. Together, they amount to 20 percent of the work force of Alcatel and Lucent when they combined.
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VALENCIA, Spain, June 1  /PRNewswire-FirstCall/ -- Vodafone and Alcatel-Lucent (Euronext Paris and NYSE: ALU) today announced a cooperation agreement to deliver the award-winning America's Cup Live Sailing service developed by Alcatel-Lucent in Vodafone's mobile portal.
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Shareholders in Marks &amp; Spencer yesterday voted overwhelmingly to accept the board&#39;s proposal for the largest tender offer made in Britain by a company for its own shares.
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Some business and industry leaders said yesterday that they were glad to see the goodwill expressed to China in President Chen Shui-bian&#39;s National Day message.
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Alcatel-Lucent wins the undersea internet cable project to give Kenya better links with the world.
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Shareholders on Monday wrap up voting on a merger deal that would combine the parents of the Chicago Mercantile Exchange and Chicago Board of Trade to create the world's largest derivatives exchange.
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A good time was had by all ISRG shareholders.
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PARIS  --  Alcatel SA and Lucent Technologies Inc. overcame shareholder misgivings to win firm backing Thursday for their $10.7 billion tie-up to create a major global telecommunications equipment maker.
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Investors on Friday cheered a decision by AT&amp;T, the largest US provider of long-distance service, to eliminate more than 20 percent of its work force this year and write off $11.
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Lucent Technologies Inc. (LU.N: Quote, Profile, Research) on Tuesday said it reached a tentative labor agreement with the two unions representing about 10 percent of its work force, ending
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Vodafone, the world&#39;s largest mobile phone company, today gave shareholders an early Christmas present by doubling its half-year dividend to 1.91p and extending a share buy-back programme.