Michel Combes News
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European stocks rallied for a third week, closing at their highest level in almost five years, as companies from BT Group Plc to Hochtief AG posted earnings that beat estimates, while economic data exceeded expectations.
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Alcatel-Lucent SA Chief Executive Officer Michel Combes, taking the reins after his predecessor’s turnaround plan failed, told shareholders today keeping the pace of cash consumption under control and focusing on fewer businesses are among the network-equipment maker’s priorities.
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Alcatel-Lucent SA risks having its debt rating cut by Moody’s Investors Service if the French phone network equipment vendor doesn’t return to profitability and stop consuming cash in the second half of the year.
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Alcatel-Lucent SA reported a fourth straight quarterly loss as its cash pile shrank by half a billion euros, pressing new Chief Executive Officer Michel Combes to complete a strategy review.
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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.
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The French government is weighing options including an investment in Alcatel-Lucent SA as it looks to protect the unprofitable network equipment maker’s patents, people with knowledge of the deliberations said.
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Nokia Siemens Networks is selling 600 million euros ($779 million) of bonds and published a detailed list of assets and liabilities, as Nokia Oyj and Siemens AG seek to make the venture more independent.
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The ouster of Vivendi SA Chief Executive Officer Jean-Bernard Levy has caused another executive to rethink his plans at the company.
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Nokia Siemens Networks, the telecommunications equipment venture between Finland’s Nokia Oyj and Siemens AG of Germany, predicts three profitable vendors will outlive consolidation in the industry, according to its chief executive officer.
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The French government is weighing options including an investment in Alcatel-Lucent SA as it looks to protect the unprofitable network equipment maker’s patents, people with knowledge of the deliberations said.
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