The much awaited merger of Nokia Corporation (ADR) (NYSE:NOK) and Alcatel Lucent SA (ADR) (NYSE:ALU) might face obstacles after the Finnish company reported its weak quarterly results, according to Reuters.
Alcatel Lucent SA (ADR) (NYSE:ALU)'s newly appointed CEO, Michel Combes, recently announced plans to cut costs. Combes said he aims to raise 2 billion euros ($2.7 billion) by 2015 through job cuts and asset sales.
It was a big contract win for Alcatel Lucent SA (ADR) (NYSE:ALU). The company was awarded a big 4G deal by China Telecom, which would make it one of the three top suppliers of high-speed mobile broadband access.
Alcatel Lucent SA (ADR) (NYSE:ALU) plans to update on its new growth strategy later this year. The company is entering the final leg of its turnaround plan and CEO, Michel Combes, said he remains focused on completing the process successfully.