Alcatel-Lucent Sells Subsidiary For $307M To China Huaxin

Law360, New York (February 6, 2014, 9:34 PM EST) -- Alcatel-Lucent SA agreed to sell its phone business to tech investment firm China Huaxin for €227 million ($307 million) as the communication infrastructure company restructures itself in the wake of losses. 

Alcatel hasn't been doing well since it launched in 2006, posting consecutive losses every year. It lost €1.3 billion in 2013, according to its financial history, though it performed better in the fourth quarter. It lost €2 billion in 2012. The company said that it will sell a billion euros worth of assets and narrow...
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