Alcatel-Lucent plans to sell majority of its enterprise business for ?268 million to China Huaxin, a technology investment company. The telecom equipment vendor has received binding offer from China Huaxin, for the acquisition of Alcatel-Lucent Enterprise.
Under the deal, Alcatel-Lucent will retain a 15 per cent minority stake in the enterprise business. The proposed deal will be submitted to the workers councils of Alcatel-Lucent Enterprise for consultation and approval. Following regulatory approvals, both the companies are expected to close the deal during the second quarter of 2014.
