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Alcatel-Lucent Up 1.4% on Takeover Rumors; Chinese Company Reportedly Interested

Published on Thu, 03/03/2011 - 12:50
By Stephanie Shyu
adr, alcatel-lucent, business, higher, huawei, income, investment, market, news, shares, stocks, telecom, trade

ADRs of Alcatel-Lucent (ALU) are higher after Reuters, citing information from traders reported a takeover bid may be coming from a Chinese telecom company.

Chinese telecom gear maker Huawei is among the companies mentioned in the Reuters report. The report also quoted a spokesman saying Huawei has no plans to invest in Alcatel.

Alcatel shares are up 1.43%, or $0.07, to $5.32.

By Stephanie Shyu
sshyu@fnno.com

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