Alcatel and Lucent Technologies announced they have received approval from the Committee on Foreign Investment in the United States (CFIUS) to proceed with their proposed merger transaction. Alcatel and Lucent submitted a voluntary notice of the merger to CFIUS in August 2006. CFIUS prepared a recommendation on the merger transaction to the President of the United States in the final phase of the approval process and the President has accepted the CFIUS recommendation that he not suspend or prohibit the proposed merger transaction, provided that, in time periods specified, the companies execute a National Security Agreement and Special Security Agreement to which they have agreed with U.S. government agencies. Alcatel and Lucent will execute within the specified time periods the National Security Agreement and Special Security Agreement to which they have previously agreed with U.S. government agencies.
The companies are moving quickly to finalise the transaction and expect to complete the merger on November 30, 2006, within the six-to twelve-month timeframe originally announced April 2, 2006.
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