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Alcatel-Lucent shares gain on report it is nearing loan
December 4, 2012 / 1:45 PM / 5 years ago

Alcatel-Lucent shares gain on report it is nearing loan

PARIS (Reuters) - Shares in Alcatel-Lucent ALUA.PA rose more than 6 percent on Tuesday after a media report said the telecom equipment maker was nearing a 1 billion euro ($1.31 billion) loan from at least three banks.

The company is closer to obtaining financing from banks as part of a turnaround plan, Bloomberg reported on Tuesday.

Alcatel may sign a deal before the end of the year, it said.

Alcatel officials did not immediately return a phone call seeking comment.

Alcatel, which was unprofitable in the third quarter, is seeking to shore up its balance sheet and sources told Reuters last month the company was studying options including asset sales and debt restructuring.

Shares rose 6.3 percent, to 0.92 euros ($1.20), at 8:22 a.m. EDT.

Reporting by Lionel Laurent; Editing by Helen Massy-Beresford

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