President Bush Gives Final Approval to Alcatel-Lucent Merger

1:30 pm on November 20, 2006 | Category: Business, Regulation

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After a 75-day review by the Committee on Foreign Investment, U.S. telecom equipment giant, Lucent Technologies has been given final approval to merge with French competitor, Alcatel.

President George W. Bush signed the merger deal after being assured that the Lucent-controlled Bell Labs, which conduct sensitive communications research for the American government, will be restructured as a separate unit controlled only by Americans.

“Alcatel and Lucent have agreed with US government agencies to enter into two robust and far-reaching agreements designed to ensure the protection of our national security,” said a White House spokesman, noting that the President’s approval was strictly contingent on these agreements.

Now that this final regulatory hurdle has been overcome, Alcatel and Lucent say they plan to close their merger deal by the end of this month, creating one of the world’s largest suppliers of network infrastructure

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    Edited by Jeremy Maddock