Leader: Alcatel-Lucent - a "merger of equals"?

So it looks like Alcatel and Lucent might tie the knot - something they weren't able to do five years ago when merger talks broke down.

The word back then was that neither company wanted to be taken over, an understandable point of view given the history of each.

Now it looks more the case that Alcatel saw out the telecoms bust better than others - Lucent included - and has a chance to challenge Cisco as the all-IP, converged communications world takes shape.

There is also talk that while charismatic Alcatel CEO Serge Tchuruk has found it hard to find a successor within his own ranks, Lucent CEO Pat Russo could take the helm. And that would look good to the rank-and-file at Lucent.

Alcatel, like many other French companies, from utilities to yoghurt makers, is seen as a national champion, rightly or wrongly. Lucent, is less likely to be missed by Americans, who count a number of equipment-makers on their shores, unlike back in the day when it was the R&D jewel in the crown of AT&T.

These factors make a deal all the more likely.

For customers, the deal is potentially good. There are no competition issues - the market has plenty of other players out there - and product lines could be improved, combined or ditched (where there is obvious crossover, which in some cases there is).

How two R&D centres combine - even if they get together in the short to medium term - isn't apparent.

For the customers of their customers - namely those the telcos serve as much as enterprise IT and telecoms departments - a tie-up may again ensure a strong supplier going forward.

The deal hasn't been done yet (at the time of writing, at least). But in a world where Cisco and increasingly China's Huawei will be strong, where there is a second tier of established quality suppliers - some of whom remain giants and national champions in their own right - and where board members have quite possibly learnt the lessons of a botched merger attempt in 2001, this deal looks increasingly likely.

Doesn't Lucent have a kind of ring to it in French?