Japanese Firm in Talks to Acquire Lucent Unit
Reuters
Furukawa Electric Co., Japan’s biggest maker of fiber-optic parts, said it’s in talks to buy Lucent Technologies Inc.’s fiber-optic cable division but added that no decision has been reached.
“It is true that there are negotiations, but there has been absolutely no decision on any concrete details,” Furukawa Electric said.
The Wall Street Journal had reported that the two were close to reaching a $2.75-billion deal for the sale.
The sale of the Optical Fiber Solutions subsidiary is crucial to Lucent’s broad restructuring plan as the company tries to adjust to a shrinking market for telecommunications equipment.
Lucent shares closed up 29 cents at $7.90 on the NYSE, before Furukawa confirmed the talks.
