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Sun 3 Dec 2006 04:00 PM

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Green light for Alcatel merger

The US government has given the go-ahead for the merger of Alcatel and Lucent Technologies

The US government has given the go-ahead for the merger of Alcatel and Lucent Technologies.

In a joint statement, the companies announced the Committee on Foreign Investment in the United States (CFIUS) had granted its approval for the firms to proceed with their proposed merger transaction.The merger between the French telecommunications equipment maker and Lucent Technologies is set to create one of the world’s largest suppliers of network hardware and software for mobile and high-speed Internet communications with US$25 billion in annual revenue. The deal was scheduled to be completed at the end of last month.

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