French investor-advisory firm Proxinvest is recommending that Alcatel shareholders reject the planned merger with Lucent Technologies. Proxinvest said that the deal, as proposed, would force shareholders to pay too much for Lucent. The firm also criticized proposed changes to corporate bylaws that would make it harder to out the chief executive and the chairman.

To read more about Proxinvest's recommendation against the Alcatel/Lucent merger:
- take a look at this article from The Wall Street Journal (sub. req.)