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PARIS - Franco-American telecoms gear group Alcatel-Lucent said on Tuesday it had completed its acquisition of the high-speed UMTS mobile access business from Canada's Nortel for $320 million.
The acquisition was made to help Alcatel-Lucent achieve greater scale and push into tough markets such as China.
After the deal, Alcatel-Lucent said one in four UMTS operators, or about 40 customers worldwide, would use the combined group's UMTS products.
Nortel said in September it had decided to sell its high-speed mobile operations to Alcatel because it was losing money and had little prospect of a near-term turnaround.
"The pre-integration work has progressed well," Mary Chan, head of Alcatel-Lucent's wireless activities said in a statement.
"Our aim is to achieve the optimum combination of Alcatel-Lucent and Nortel's technologies, with minimum customer disruption," Chan added. "We are well positioned to capture the UMTS market growth opportunity."
Source: Reuters
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