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Alcatel-Lucent inks deal with China Huaxin

Alcatel-Lucent reports more losses but says it is talks to sell division to China Huaxin

Associated Press

PARIS (AP) -- French-U.S. telecommunications equipment company Alcatel-Lucent SA says it is in talks to sell its business that deals with corporate clients to China Huaxin for around 268 million euros ($362 million).

The business, known as Enterprise, has nearly 3,000 employees. The deal is expected to close in the third quarter.

The news comes as the company reported further losses amid more restructuring and flat or falling sales in much of the world.

Alcatel-Lucent, which has lost money nearly every year since its 2006 creation, reported a net loss of 1.3 billion euros in 2013, against 2 billion in 2012.

CEO Michel Combes said Thursday that the company is "on track" to achieve revenue and cash flow targets by 2015, but made no forecast on when the group would turn a profit.