Alcatel, Lucent sign merger deal

Alcatel and Lucent made their merger plans official yesterday, forming a mega-vendor company valued at about $25 billion in revenue. The new company, which doesn't have a name yet, is expected to eliminate 10 percent of its combined work force of 88,000 and save $1.7 billion a year within three years. While Lucent CEO Pat Russo will be the combined company's CEO, the shares of the new company will be listed in Paris. To ease national security concerns, which were said to be holding the deal up, the combined company says it plans to form an independent U.S. subsidiary to handle certain American government contracts.

To read more about the Alcatel and Lucent merger deal:
- check out this article from The Wall Street Journal (sub. req.)
- take a look at this report from Red Herring


Like this story? Subscribe to FierceWireless!

The Wireless industry is an ever-changing world where big ideas come along daily. Our subscribers rely on FierceWireless as their must-read source for the latest news, analysis and data on this increasingly competitive marketplace. Sign up today to get wireless news and updates delivered to your inbox and read on the go.

Suggested Articles

AT&T has shifted its Cricket prepaid brand to a 100% authorized retailer model, according to Wave7 Research.

The FCC decided to extend the timeline for responding to Huawei's application for review until December 11.

All operators are trying to understand the intersection between their networks and hyperscale networks. But who gets the lion's share of the revenue?