Alcatel Completes Newbridge Acquisition

Paris -- Alcatel and Newbridge Networks Corporation today announced the completion of Alcatel's previously announced acquisition of Newbridge Networks.

The merger became effective today after the Superior Court of Justice (Ontario, Canada) approved the plan of arrangement, and after clearance by all competent regulatory authorities. Alcatel now owns all of the voting and equity shares of Newbridge Networks. By virtue of this acquisition, Newbridge Networks shareholders now hold, at their election, either Alcatel ADSs or exchangeable shares to be exchanged into Alcatel ADSs within the next five years.

Through the acquisition of Newbridge Networks, Alcatel is able to immediately extend its world-wide leadership in wired and wireless multi-service broadband access solutions, which are the cornerstone of multimedia-ready next generation networks. It reinforces Alcatel's position in ATM, a key technology in voice/ data convergence and also positions Alcatel as a leader in the LMDS radio access networks.

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