Alcatel and Pirelli signed an agreement regarding their respective submarine telecommunication businesses. Alcatel will acquire certain Pirelli related assets and obtain intellectual property rights for EUR 52.5 million, while Pirelli will pay EUR 45 million to acquire a 5% shareholding in Alcatel’s submarine business.
The companies said optical submarine networks continue to play an instrumental role in the development of the global Internet infrastructure by interconnecting continents and remote parts of the world with massive, hi-speed information highways. http://www.alcatel.comhttp://www.pirelli.com
