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Nice little windfall for a troubled firm...
Published: 20 November 2001 07:12 GMT
Telecom equipment maker Alcatel has sold E270m (£170m) worth of shares in French defence electronics group Thales.
French firm Alcatel has cut its holding in Thales from 20 per cent down to 15.8 per cent - the minimum stake it needs to maintain in order to stick to the terms of a shareholder pact that ensures it is represented on the Thales board.
The deal represented a nice bit of business for Alcatel who bought the shares for E25 (£15.50) and sold them on for E38.65 (£24).
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