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Technology Stocks : Alcatel (ALA) and France
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To: Steve Fancy who wrote (1082)12/28/1999 10:44:00 PM
From: Steve Fancy   of 3891
 
Alcatel: EUR300M Exceptional Gain From Framatome Sale

PARIS -- French telecommunications equipment supplier Alcatel SA (ALA) said Thursday that its previously announced deal with nuclear engineering group Framatome SA will result in an exceptional gain of EUR300 million, which will be reflected in Alcatel's 1999 results.

According to the agreement, Alcatel will exchange about 80% of its stake in Framatome for 9.45% of the capital of defense electronics group Thomson-CSF (F.CSF), and a cash payment pursuant to Framatome's reorganization of its capital structure, Alcatel said.

Alcatel has to retain an 8.6% stake in Thomson-CSF for at least two years, but this could be shorter, should Framatome be publicly listed before the end of the period.

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