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France says Alcatel can reconquer lost markets with Nokia tie-up

Reuters

PARIS (Reuters) - French Economy Minister Emmanuel Macron gave his backing to Nokia's (NOK1V.HE) plan to buy Alcatel-Lucent of France on Tuesday, saying it offered a chance to reconquer lost markets and create a European leader in telecoms equipment.

Speaking after a meeting between the heads of the two companies and President Francois Hollande, Macron also pledged there would be no job cuts among the 6,000 Alcatel-Lucent employees in France, and said the combined group planned to base research and development operations in France.

"It's a good move for Alcatel-Lucent because it is a move for the future, because we are building, with this tie-up, a new conquest for Alcatel-Lucent, which was a company in great difficulty two years ago."

Nokia announced earlier on Tuesday it was in talks to buy Alcatel-Lucent.

(Reporting by Elizabeth Pineau; Editing by John Irish)