Alcatel Alsthom

ITT Wraps Up Sale of Stake in Alcatel: The corporation said it completed the sale of its 30% share in the French firm to joint venture partner Alcatel Alsthom. The New York-based conglomerate said that in return for transferring its 14,048,561 shares in Alcatel, it received $1 billion in cash, plus 9.1 million new shares of Alcatel Alsthom. It will receive an additional $766.8 million in July, 1993, and another $816.6 million a year later.

Thousand Oaks-based Amgen Inc. is among 15 stocks Salomon Smith Barney Inc. is betting on to be attractive investments in the coming year. The latest edition of Salomon's "Ten+ Exceptional Names," an annually revised portfolio of stocks, is based on the recommendations of the firm's industry analysts. Last year's list gained 31% through the 12 months ended June 30, beating the 28% price gain for the Standard & Poor's 500-stock index over the same period.

ITT Corp. has agreed to sell its 30% stake in the telecommunications manufacturing giant Alcatel NV for about $3.6 billion in cash and stock, officials announced Tuesday. The stake is being sold to Alcatel Alsthom SA, which already owns the rest of Alcatel. Alcatel Alsthom has interests in energy, transportation and communications. The deal ends ITT's involvement in the telephone industry. ITT said it will receive $2.6 billion in cash in three installments through 1994.

French manufacturer Alcatel Alsthom is acquiring telecommunications equipment maker DSC Communications Corp. for about $4 billion in stock, executives of the companies said. The acquisition would expand the French company's presence in the U.S. telecommunications equipment market. The announcement said Plano, Texas-based DSC's strong position in making telecom access and switching equipment would complement Alcatel's strength in transmission equipment.

Thousand Oaks-based Amgen Inc. is among 15 stocks Salomon Smith Barney Inc. is betting on to be attractive investments in the coming year. The latest edition of Salomon's "Ten+ Exceptional Names," an annually revised portfolio of stocks, is based on the recommendations of the firm's industry analysts. Last year's list gained 31% through the 12 months ended June 30, beating the 28% price gain for the Standard & Poor's 500-stock index over the same period.

France's Alcatel Alsthom said it and San Jose-based Cisco Systems Inc. agreed to combine their expertise in Internet software and telecommunications networks. Alcatel will provide know-how in phone- networking systems, while Cisco will pool its expertise in Internet technology. "Both companies complement each other well," said J.P. Morgan & Co. analyst Sean Faughnan. "In the past, Cisco focused on data applications, while Alcatel focused on voice applications." Sector Spotlight, D5.

French manufacturer Alcatel Alsthom is acquiring telecommunications equipment maker DSC Communications Corp. for about $4 billion in stock, executives of the companies said. The acquisition would expand the French company's presence in the U.S. telecommunications equipment market. The announcement said Plano, Texas-based DSC's strong position in making telecom access and switching equipment would complement Alcatel's strength in transmission equipment.

ITT Corp. said it will sell its remaining stake in French telecommunications company Alcatel Alsthom for about $530 million, or a 25% premium, as it fights Hilton Hotels Corp.'s hostile takeover bid. The decision to sell the 4.5 million shares comes more than a month after New York-based ITT sold 3 million Alcatel shares. Earlier this month, ITT agreed to sell its 50% interest in Madison Square Garden and the arena's sports teams and cable network to Cablevision Systems Corp. for $650 million.

Electric Car Battery Research Contracts Awarded: The Advanced Battery Consortium, funded by the federal government and the Big Three auto makers to advance work on power sources for electric vehicles, has awarded $54 million in contracts for development of cheaper batteries. W. R. Grace & Co. and its partner, Johnson Controls Inc., were awarded $24.5 million for a three-year program. A $17.3-million, three-year contract was awarded to Saft America Inc., a Valdaosta, Ga.

Xylan Corp. signed an agreement with Northern Telecom, North America's No. 2 telephone equipment maker, to sell Xylan's computer switches to Northern's telecommunications customers. Northern began selling Xylan's OmniStack and OmniSwitch products, which are used to link computers in corporate networks, in the second quarter. More than 40% of Xylan's second-quarter revenue came through agreements with large equipment makers IBM Corp. and Alcatel Alsthom.

France's Alcatel Alsthom said it and San Jose-based Cisco Systems Inc. agreed to combine their expertise in Internet software and telecommunications networks. Alcatel will provide know-how in phone- networking systems, while Cisco will pool its expertise in Internet technology. "Both companies complement each other well," said J.P. Morgan & Co. analyst Sean Faughnan. "In the past, Cisco focused on data applications, while Alcatel focused on voice applications." Sector Spotlight, D5.

ITT Corp. said it will sell its remaining stake in French telecommunications company Alcatel Alsthom for about $530 million, or a 25% premium, as it fights Hilton Hotels Corp.'s hostile takeover bid. The decision to sell the 4.5 million shares comes more than a month after New York-based ITT sold 3 million Alcatel shares. Earlier this month, ITT agreed to sell its 50% interest in Madison Square Garden and the arena's sports teams and cable network to Cablevision Systems Corp. for $650 million.

ITT Wraps Up Sale of Stake in Alcatel: The corporation said it completed the sale of its 30% share in the French firm to joint venture partner Alcatel Alsthom. The New York-based conglomerate said that in return for transferring its 14,048,561 shares in Alcatel, it received $1 billion in cash, plus 9.1 million new shares of Alcatel Alsthom. It will receive an additional $766.8 million in July, 1993, and another $816.6 million a year later.

ITT Corp. has agreed to sell its 30% stake in the telecommunications manufacturing giant Alcatel NV for about $3.6 billion in cash and stock, officials announced Tuesday. The stake is being sold to Alcatel Alsthom SA, which already owns the rest of Alcatel. Alcatel Alsthom has interests in energy, transportation and communications. The deal ends ITT's involvement in the telephone industry. ITT said it will receive $2.6 billion in cash in three installments through 1994.

Globalstar said the start of its satellite-based telecommunications services will be delayed because further testing is needed on equipment that will monitor its satellites. The additional testing will push back the launch of the first four satellites in Globalstar's planned orbiting network to February, about two months later than scheduled. That delay will put off the scheduled launches of the other 40 satellites set for next year.

Globalstar, a satellite-based communications system designed to enable customers to make phone calls and transmit data and faxes on the go in more than 100 countries, will begin service Jan. 1, 1999, an executive at one of the project's partners and suppliers said. Alcatel Espace Chairman Jean-Claude Husson also said that nearly all of the financing for Globalstar, a San Jose-based international effort expected to cost $2.5 billion, is in place.