Lucent Sells Optical Fiber Solutions Business

Furukawa Electric Co. Ltd. has purchased the major portion of the Optical Fiber Solutions business of Lucent Technologies for $2.3 billion. In a separate agreement, Corning Inc. is purchasing the remaining portion, consisting of interest in the joint ventures Lucent Technologies Shanghai Fiber Optic Co. Ltd. and Lucent Technologies Beijing Fiber Optic Cables Co. Ltd., for $225 million, subject to various approvals. Lucent says the sale will enable it to focus on meeting the needs of service providers for broadband and mobile infrastructure technology while allowing Optical Fiber Solutions to expand.