12:00 PM -- Everyone knows Alcatel-Lucent is looking to sell some assets to raise cash and lighten its load and it seems the vendor's submarine cable-laying fleet of ships might soon be heading to a new owner. (See Alcatel-Lucent Sharpens Its Focus.)
That particular part of the AlcaLu business is currently in the care of CFO Paul Tufano, who also has the Enterprise and Strategic Industries (which focuses on verticals such as defense, utilities) units in his charge. It seems likely these are high on the "for sale" list (especially as the enterprise unit has been on the block before).
In the meantime, Alcatel-Lucent's new credit facility has calmed some investor nerves: The vendor's share price is up by 16.5 percent on the New York Stock Exchange compared with a week ago, although it is still only at $1.40.
Barry_Gray, User Rank: Light Beer 1/5/2013 | 2:03:34 AM
re: For Sail: Alcatel-Lucent's Subsea Business
ALU may be able to make a sale this time. The submarine cable business is one of the few profitable areas left from before Alcatel's merger with Lucent. Of course, selling off the parts that make money because those are the only things that others will actually buy is the path to oblivion that we have seen many telecom companies take over the years.
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