Alcatel-Lucent SA appointed Roberto Loiola to lead its Italian unit, hiring the executive who worked at competitor Huawei Technologies Co. to help boost sales of network equipment to European phone companies.
Alcatel-Lucent SA is offering about 1 billion euros ($1.4 billion) in bonds that can be exchanged for its stock, to repay debt taken on last year when the network- equipment vendor struggled to survive.
Alcatel-Lucent plans to open a Bell Labs research center outside Tel Aviv to help the French network-equipment maker advance in cloud technology against competitors including Ericsson AB and Nokia Oyj.
Alcatel-Lucent SA, the French network- equipment maker halfway through a three-year revamp plan, said more profitable products and lower administrative costs helped narrow its first-quarter loss. The stock rose.
Alcatel-Lucent SA’s Michel Combes prompted a 19 percent jump in his company’s shares, the biggest increase in five years, by reporting earnings that helped show the French network-equipment maker can scale down to survive.
Alcatel-Lucent SA named former Vodafone Group Plc executive Michel Combes as chief, tapping a phone-industry veteran with cost-cutting experience as the French network-equipment maker struggles to return to profit.
Alcatel-Lucent SA will sell 1 billion euros ($1.3 billion) of assets and slash costs by another 1 billion euros in a bid by Chief Michel Combes to turn the company around -- something his predecessors tried, and failed, to do for seven years.
Alcatel-Lucent SA is seeking to raise $2.7 billion through a combination of new shares and debt, taking advantage of a stock that has almost tripled since Chief Executive Officer Michel Combes took over to finance the network-equipment maker’s overhaul.