Alcatel-Lucent confirms cap hike timetable

Reuters News
Posted: Nov 15, 2013 8:30 AM
Alcatel-Lucent confirms cap hike timetable

PARIS (Reuters) - Alcatel-Lucent confirmed the subscription ratio and timetable of its planned capital increase on Friday, and said it would amount to 956.69 million euros ($1.29 billion).

The company confirmed that the subscription period would start on November 19 and end on November 29.

The loss-making telecom equipment maker earlier this month announced plans to raise 954.92 million euros from shareholders and $750 million from a high-yield bond to cut debt and drive what its chief executive has called a last-ditch effort to save the group.

(Reporting by James Regan; Editing by Blaise Robinson)