Alcatel eyes $2 billion in savings including asset sale

06/19/2013 | Bloomberg Businessweek · Wall Street Journal, The · Network World

Alcatel-Lucent CEO Michel Combes laid out his plans today for turning around the telecom gear maker, saying the company will narrow its focus to a handful of businesses by selling off $1.3 billion in assets and paring $1.3 billion in costs. In what Combes called the "Shift Plan," the French vendor will concentrate on its more profitable IP routing unit along with optical networking and mobile ultra-broadband access divisions "We intend to reduce our spending on legacy technologies to fuel development in new technology. That means LTE in wireless and fiber in wireline," he said referring to 4G-based Long-Term Evolution services.

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Bloomberg Businessweek · Wall Street Journal, The · Network World

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