January 21, 2007 / 9:01 AM / 12 years ago

Thales shareholders back Alcatel-Lucent space deal

PARIS, Jan 5 (Reuters) - Shareholders in defence electronics group Thales (TCFP.PA) on Friday approved a 1.7 billion euro ($2.24 billion) deal to absorb Alcatel-Lucent’s ALU.PA space activities as well as its transportation/security assets.

Thales will pay 670 million euros in cash for Alcatel-Lucent’s share in two ventures it operates together with Italy’s Finmeccanica SIFI.MI, Alcatel Alenia Space and Telespazio.

It will also buy Alcatel’s non-core security and transportation business for 25 million new shares and 40 million euros in cash.

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