Pirelli and Alcatel Complete Transaction

Alcatel and Pirelli announced today that they have completed the transaction regarding their respective submarine telecommunication businesses, after having received approval of Italian Antitrust Authorities.
The announcement was originally made on the 6 May and refers to Pirelli’s telecommunications cable manufacturing wing.

As outlined in the agreement, Alcatel has acquired certain Pirelli related assets and obtained intellectual property rights, while Pirelli has taken a 5 per cent shareholding in Alcatel’s submarine business, with associated mutual put and call options.