ALCATEL MOVES CLOSER TO THOMSON-CSF.
Alcatel's November 5 acquisition of a 25.3% stake in Thomson-CSF, the French state-owned defence electronics concern, paves the way for a new stage in their cooperation, both civil and military, according to the Alcatel and Thomson CEOs, Serge Tchuruk and Denis Ranque, respectively. The agreement provides for the withdrawal of Alcatel from Framatome, the French state-owned nuclear energy group. Alcatel, which will also acquire an additional 9.4% stake in Thomson-CSF from the French state for some Euro 564 million, will finance the acquisition through the disposal of a 34% stake in Framatome to the French state. Mr Tchuruk said this will give his group a net added value from the sale of some Euro 300 million as well as Euro 150 million in cash. Alcatel said there would be full pooling...
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