|
 PARIS (AP) - French electronics and defense company Thales SA said Wednesday it will acquire Alcatel SA's satellite and security operations for 1.7 billion euros ($2.08 billion) in cash and shares, keeping the politically sensitive assets in French hands.
Under the transaction, Alcatel will boost its stake in Thales to 21 percent from 9.5 percent, while the French state will see its stake reduced to 27.1 percent from 31 percent, Thales said in a statement.
The deal has been pushed by Alcatel Chairman and Chief Executive Serge Tchuruk, who wants his company to focus on its core telecom business as it gears up to integrate the $13.4 billion purchase of Lucent Technologies Inc.
|