By Financial News

The French government wants to buy into the submarine cable business of loss-making telecommunications equipment specialist Alcatel-Lucent SA (EPA:ALU), which could sell for between EUR600m (USD783m) and EUR700m, according to French business paper Agefi.

Agefi reported today, without naming its sources, that the French sovereign wealth fund FSI was among the several parties potentially interested in Alcatel-Lucent’s unit.

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