By Marie Mawad, Bloomberg

Alcatel-Lucent SA (ALU) plans to sell part of its submarine-cables unit in an initial public offering, adding to Chief Executive Officer Michel Combes’s efforts to turn around the French network-equipment maker.

The IPO, targeted for the first half of 2015, will give the business means to seek acquisitions and expand outside telecommunications into industries such as oil and gas, Alcatel-Lucent said today. Second-quarter sales fell about 5 percent, trailing analysts’ estimates and sending the stock down.

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