Alcatel-Lucent is in exclusive talks to sell its office-phone business to investment company China Huaxin, the telecom-gear maker said Thursday after it swung to a larger-than-expected profit in the fourth quarter.
The Franco-American maker of cellular networks and Internet-backbone equipment said China Huaxin made a binding offer to buy a majority stake in the business-phone unit for an enterprise value of €268 million ($362 million). In the deal under consideration, Alcatel would retain a 15% stake in the unit, which makes phone systems and other equipment for businesses.
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Sam Schechner, The Wall Street Journal via CHINA US Focus http://ift.tt/1e6lQoR
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