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Alcatel to Sell CTC Marine Projects Shares

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PARIS, Dec. 18 -- Alcatel announced today it will sell its 74-percent shareholding in British-based undersea cable installation specialist CTC Marine Projects in order to adapt its marine resources to the persistent downturn in the submarine cable networking market. The shares will be acquired by two existing shareholders, Managing Director Charles Tompkins and Finance Director John Johnson. Gaining full control of the company will allow CTC's directors to implement a diversification plan to enter the oil field and energy cable sectors, CTC said. "CTC's modern and technologically advanced...Read full article

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    Published: December 2002
    CommunicationsNews & Features

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