Is Alcatel On Hold?Jonathan B. Levine
If anyone understood how to crack Europe's common market, it was Alcatel Chairman Pierre Suard. The French telecommunications mogul broke into Europe's clubby national phone markets with a string of coups, starting with the 1987 purchase of ITT Corp.'s $6 billion equipment business. Suddenly, Alcatel looked like a local champion in almost every major country--and locked up 30% of the European market for phone switch and transmission gear. Profits at parent Alcatel Alsthom soared, reaching $1.3 billion last year.
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