Lucent Down on Report Fiber-Unit Price Likely to Fall
Lucent
(LU) - Get Lufax Holding Ltd American Depositary Shares two of which representing one Report
was giving up ground in the premarket on a report that it isn't likely to collect the full $2.75 billion it had sought for its fiber unit.
The Wall Street Journal
quoted people familiar with the transaction saying the buyers, a group comprising
Furukawa Electric
,
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CommScope
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and
Corning
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, are negotiating a lower price for the unit.
The transaction still is expected to be consummated, although CommScope's role in it will probably be greatly reduced, the article said.
On Instinent, Lucent recently was down 23 cents a share, or 2.9%, to $7.62.
