Alcatel announced today that it has signed definitive binding documentation with Draka Holding N.V. in relation to...
May 17, 2004
Alcatel announced today that it has signed definitive binding documentation with Draka Holding N.V. in relation to the merging of their respective global optical fiber and communication cable businesses.
The transaction, which was initially announced in February, will see Draka own 50.1% and Alcatel 49.9%. The name of the new company is Draka Comteq B.V.
“With this announcement, we are making another important step in our strategy to focus on communication solutions," Olivier Houssin, executive vice president of Alcatel said at the time.
"As part of this strategy, the company is playing an active role in fostering the necessary consolidation of the fiber and fiber cable industry. This proposed transaction will allow Alcatel to benefit from an improved fiber cable capability in its FTTH activity."
Completion of the transaction will take place at the end of the second quarter 2004, subject to relevant approvals.
The new company will have a fiber product portfolio addressing a range of telecommunication and data communication applications.