Alcatel-Lucent kicked out of CAC 40 after 25 years.
Alcatel-Lucent, which has been a member of the CAC 40 index of leading French shares since the index was created in 1987, has been kicked out of the index after 25 years.
In 2000, Alcatel-Lucent’s market cap topped $110bn. Its current market cap is $2.1bn.
The rot set in when Alcatel bought Lucent for $13.4bn in 2006.
Last month, Alcatel-Lucent went to Goldman Sachs for a loan following a cash burn of Euros 700m a year for the last six years, a number of asset sales and in the face of Euros 2bn of debt due over the next three years.