For Sail: Alcatel-Lucent's Subsea Business
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.)
MarketWatch reports that France Télécom – Orange may be interested, with a price tag of up to €150 million (US$198 million) cited.
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.