Date
23 October 2017

Alcatel in talks to sell phone unit to Chinese firm, WSJ says

Alcatel-Lucent S.A. is in exclusive talks to sell a majority stake in its office phone business to a Chinese state-owned investment company, the Wall Street Journal reported Thursday. China Huaxin Post and Telecommunication Economy Development Center made a binding offer to buy an 85 percent stake in the unit for 201 million euros (US$272 million) plus debt, Alcatel was quoted as saying. The Franco-American company will retain a 15 percent stake in the unit which makes phone systems and other equipment. Alcatel expects to sign the deal next quarter and close the transaction in the third, pending regulatory approval, the report said. China Huaxin is a minority partner in Alcatel’s China unit, Alcatel-Lucent Shanghai Bell.

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