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Published: 18 September 1998 12:15 BST
Alcatel has announced a share buy-back scheme following a disastrous profit warning issued by the company yesterday.
Shares in the company fell by 40 per cent after it revealed a drop in profits of 15 per cent. The company blamed the collapse of the Asian and Russian markets for the enforced revision.
In a statement today, Alcatel's CEO, Serge Tchuruk, said he was disappointed by the Paris stock exchange's reaction to the announcement and would recommend to the board of directors a withdrawal from public ownership.
This shows company is making large profits and growing significantly despite global economic downturn. This means that even in its relatively short ...
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