Alcatel Marine Cable Unit Should Stay in France, Minister Says

Alcatel-Lucent’s submarine network’s unit should remain in French hands, Digital Technology Minister Fleur Pellerin said, according to an interview published in Les Echos newspaper.

“The know-how of Alcatel Submarine Netwroks is unique,” Pellerin was quoted as saying. It’s a “strategic asset” and “we favor a solution that keeps the business intact and based in France. Any purchases of stakes will be subject to a review by the treasury under the foreign investment decree.”

Pellerin also said that the French government favors having four mobile phone operators in the country. “A merger, which would imply the disappearance of one operator, would be seen as a defeat,” the minister was quoted as saying.

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: Mark Deen at markdeen@bloomberg.net

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