China's Huawei source says no plan for Alcatel-Lucent stake

BEIJING Fri Aug 28, 2009 1:12am EDT

BEIJING Aug 28 (Reuters) - China's Huawei has no plans in taking a stake in Alcatel-Lucent (ALUA.PA)," a Huawei source said on Friday, two days after the French-American telecoms equipment maker's stock climbed on speculation a Chinese rival could acquire it.

"Huawei has no plans to take a stake in Alcatel-Lucent," said the company source, who requested anonymity because of the sensitive nature of the issue.

Shares of Alcatel-Lucent SA jumped 16 percent on Wednesday on the rumour, and a rating upgrade by Natixis. [ID:nLQ72419]

Huawei and domestic rival ZTE Corp (0763.HK) have been expanding their operations aggressively in overseas markets, but analysts said they would face stern regulatory scrutiny before approval. ($=6.83 yuan) (Reporting by Kirby Chien; Editng by Chris Lewis)