MERGERS among telecoms-equipment makers have a terrible record. In 2006 Alcatel, a troubled French telecoms conglomerate, was pressed to merge with Lucent Technologies, a descendant of America’s former telecoms colossus, AT&T. The messy result burned cash for eight years and saw its share price tumble almost 75%. Nokia’s experience of togetherness was hardly happier. In 2007 the Finnish firm formed ...
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