Alcatel to sell $1.3bn in assets
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Alcatel to sell $1.3bn in assets

Alcatel to sell $1.3bn in assets

Michel Combes, chief executive of Alcatel-Lucent has said the company is set to sell €1bn ($1.3bn) of assets and slash costs by another €1bn, in a bid to turn the company around, which his predecessors tried, and failed, to do for seven years, Bloomberg has reported. "I could blame the world for our difficulties, but the truth is we've missed product launches and been in too many geographies and businesses," Combes, who took over April 1, said. Once restructured, Paris-based Alcatel-Lucent, whose cash pile has dwindled for seven consecutive years, will look to cut its debt by €2bn by selling shares on the stock market or through further asset sales, Combes told analysts and reporters.

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