Alcatel-Lucent seeks to raise $2 billion for recovery drive

By Leila Abboud PARIS (Reuters) - Loss-making telecom equipment maker Alcatel-Lucent plans to raise 955 million euros ($1.3 billion) from shareholders and $750 million from a high-yield bond to cut debt and drive what its boss has called a last-ditch effort to save the group. Chief Executive Michel Combes launched his "Shift" plan in June, including 10,000 job cuts, 1 billion euros of cost savings and 1 billion of asset sales. At 1315 GMT, Alcatel-Lucent shares were down 2.6 percent at 2.89 euros, after falling as much as 9.3 percent. "After the sharp rise in the shares last week, the fall this morning is relatively small," said Franklin Pichard, a director at Barclays Bourse, which advises investors and owns Alcatel-Lucent shares.

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