CORPORATE NEWS:
Alcatel and Pirelli complete Submarine telecommunication business transaction
Alcatel, France, and Pirelli Group, Italy, have announced that they have completed the transaction regarding their respective submarine telecommunication businesses (refer to EuroWire N° 38), having received approval of Italian Antitrust Authorities. As outlined in the agreement, Alcatel has acquired certain Pirelli related assets and obtained intellectual property rights, while Pirelli has taken a 5% shareholding in Alcatel’s submarine business, with associated mutual put and call options.
This transaction will allow Alcatel to benefit from diversified business opportunities and enlarged intellectual property rights thereby further strengthening its world-wide lead in optical submarine networks. For Pirelli, the agreement signals a further step forward in focusing on cables and optical fibres, as well as on innovative products for broadband access and second-generation photonics, maintaining at the same time an investment presence in the area of submarine telecommunication systems.
Pirelli Telecom Cables & Systems - Viale Sarca 202 - I-20126 Milano - Italy
Fax: Int’l +39 02 644 42 92 64
Website: www.pirelli.com
Company: |
Alcatel |
Country: |
France |
Fax: |
+33 1 47 56 69 24 |
Email: |
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Website: |
www.alcatel.com |