If ALU survives, french will benefit.

I am sure the French Government backed up ALU with GS and Credit Suisse. Another heavily country subsidized company just like Huawei. Same deal different country. There would be an outrage if that happen in this country. 

If I meant pizza then the third and fourth characters would have been the same :)

> The credit facilities are due to be secured by "among other things, the intellectual property portfolio of Alcatel-Lucent," the company noted.

Thank god the Nortel IP went for a bundle, so that ALU could pre-sell their IP to GS and CS.

Also (re mendyk's comment:)

> Management by balance sheet is acheivable.

Only for a while, then you have to have profit.

Of course, I might have said that a decade ago too, so "a while" can be a very long while.

ALU continue to play catch-up with Chinese and their state funding. 

Given that all western suppliers remain strapped for cash and can’t afford the risk of financing, they will have to be ready with a sales pitch that (1) highlights downsides of Chinese bank financing, and (2) avoid bidding wars for projects that require financing, as the Chinese vendors have access to extremely deep pockets, and (3) focus on their many other capabilities (for instance, professional services or management capabilities).

http://www.capacitymagazine.com/Article/3127567/ZTE-receives-5-billion-in-additional-funding.html

Management by balance sheet is acheivable. The question is whether it's worth doing.

That size of pizza is quite easy to come by with immediate effect, I think you'll find... :-)

I target having a twelve inch &#^!$ in 2015 but that also probably will not happen.

Does CEO Verwaayen now have all the tools he needs to turn the AlcaLu ship around?

It certainly looks like this could be the last chance saloon for the CEO -- if the current restructuring plan doesn't work or can't be adequately funded with this new credit facility it might end his reign.

A lot will depend on whether he has the right lieutenants to support him...