Telecom equipment maker Alcatel-Lucent launched EUR955 million in capital increase and USD750 million in high-yield bonds.
A Bloomberg report revealed that Microsoft's acquisition of Nokia Oyj's handset business allowed the latter to purchase the wireless network equipment business of Alcatel-Lucent.
Alcatel-Lucent would push a cost cutting drive to save EUR1 billion by 2015 through cutting jobs by 1000, reported Les Echos and Le Figaro newpapers on their websites.
Analysts eased concerns about Qualcomm-Alcatel joint venture and said that the two companies would gain from the enterprise.
Alcatel-Lucent beats estimates set by analysts after Qualcomm Inc. announced to purchase the former's minority stake.
Alcatel-Lucent announced that Qualcomm has bought a minority stake in its company as part of its research partnership.
Michael Combes is the third CEO to try right Alcatel after leaving his post in Vodafone's European businesses.
Alcatel-Lucent plans to sell its assets for Eur1 billion to stem losses and focus on the businesses including ultra-high speed internet.