PARIS Dec 5 Telecom gear maker Alcatel-Lucent
will rejoin France's blue-chip CAC 40 index,
replacing STMicroelectronics, market operator NYSE
Euronext said on Thursday.
Alcatel, a founding member of the CAC 40 when the benchmark
was created a quarter century ago, was kicked out of the index
in December 2012 after its market valuation shrivelled because
of years of losses and tough Chinese competition.
Since then, Alcatel-Lucent has gotten a new chief executive
who has undertaken major cost cuts to try to get the company
back to profitability. As a result, Alcatel's stock has more
than tripled since April as investors place hopes in a recovery
for the long-struggling company.
The changes in the CAC 40 will be effective on Monday, Dec.
23, Euronext said.
(Reporting by Blaise Robinson)