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The company, which is France's largest supplier of telecommunications equipment, lost 30% of its market value since reporting their sales fell short of analyst's estimates last week. Alcatel now sells for 10.5 times estimated prof
Alcatel, once worth $100 billion at its peak, has fell deeply as it lost money every year since acquiring Lucent in 2006.
Alcatel-Lucent (NYSE:ALU) is giving potential buyers a chance to purchase patents that may be worth more than the company itself.
"Permira is the lead horse. It is offering $1.3 billion and the process is expected to last another month," claimed a source close to the matter.
Permira and Alcatel-Lucent declined to comment.
Alcatel-Lucent (NYSE:ALU) has a potential upside of 20.3% based on a current price of $5.89 and an average consensus analyst price target of $7.09.
Permira is the frontrunner to buy Genesys, an Alcatel-Lucent (NYSE:ALU) unit, in a report by Reuters. According to sources familiar with the situation, Permira is offering $1.3B and the process is expected to last another month.
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From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...
The Wall Street Journal reports that home prices showed their best year-to-date gains since 2005, up 5.9% through July, signaling the housing market's steady march toward recovery. Also from the Wall Street Journal, IBM (IBM) will increase its efforts to sell so-called cloud computing services...
CEO Marissa Mayer is bringing in some more new blood to Yahoo!, tapping Ken Goldman as the company's new Chief Financial Officer. Goldman's appointment will take effect on October 22nd.
Goldman served as CFO at his most recent employer, Fortinet, having worked at Siebel Systems, Sybase,...
