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Lucent Sells China Interests to Corning

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MURRAY HILL, N.J., Oct. 9 -- Lucent Technologies has completed the sale to Corning of its interests in two joint ventures in China -- Lucent Technologies Shanghai Fiber Optic Co. Ltd. and Lucent Technologies Beijing Fiber Optic Cable Co. Ltd. Concluding a transaction announced July 24, 2001, Corning will pay Lucent up to $225 million. The transaction closed on Sept. 30, and the purchase price includes Corning common stock valued at approximately $50 million and a future cash payment of $25 million should the ventures achieve certain business milestones. Tthese two ventures were part of...Read full article

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    Published: October 2002
    News & Features

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