Bouygues SA boosted the cash portion of its offer for Vivendi SA’s SFR phone unit to 11.3 billion euros ($15.8 billion), seeking to top a competing bid from cable billionaire Patrick Drahi that’s seen less likely to run into regulatory hurdles.
Alcatel-Lucent SA, the French network supplier divesting assets to stem losses, jumped the most in three months after reporting its first quarterly profit in two years and saying it received a bid for its enterprise business.
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 is in talks to sell its enterprise business to potential buyers including Unify GmbH & Co. KG, a Gores Group LLC and Siemens AG venture, according to three people familiar with the matter.
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.
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.