Alcatel to Buy Shanghai Bell
BEIJING, Oct. 25 -- Alcatel SA plans to buy control of Chinese network gear supplier Shanghai Bell and consolidate China operations under it. Alcatel will pay $312 million to increase its stake in Shanghai Bell then merge all of its China operations over two years, executives said.
"It's a form of consolidation," said Alcatel CEO Serge Tchuruks.
Alcatel would buy 8.35 percent of Shanghai Bell from the Belgian government and 10 percent plus one share from China -- giving Alcatel a controlling 50 percent plus one share stake in Shanghai Bell, to be renamed Alcatel Shanghai Bell, Tchuruks said.
The Ministry of Information Industry, China's telecoms regulator, will control the Chinese stake in Alcatel Shanghai Bell, which will operate as a majority foreign-owned firm, not a joint venture.
LATEST NEWS
- CLEO Heads to the East Coast
Apr 29, 2024
- Laser-Based Gas Analyzer Developed to Detect Air Pollution
Apr 29, 2024
- Qubits Could be Stored in Flash-Like Memory
Apr 29, 2024
- Exail Signs LLNL Contract, Partners with Eelume
Apr 26, 2024
- Menlo Moves U.S. HQ: Week in Brief: 4/26/2024
Apr 26, 2024
- Optofluidics Platform Keys Label-, Amplification-Free Rapid Diagnostic Tool
Apr 25, 2024
- DUV Lasers Made with Nonlinear Crystals Enhance Lithography Performance
Apr 25, 2024
- Teledyne e2v, Airy3D Collaborate on 3D Vision Solutions
Apr 24, 2024