Alcatel and Draka are to combine their global optical fibre and communication cable businesses into a jointly-owned company. Draka will own 50.1% of the new company and Alcatel will control the remaining portion. "Draka is delighted to be joining forces with Alcatel, a world leading telecommunications solutions vendor," said Jan Van Kesteren, Chairman of the board of management of Draka. "The proposed combination reinforces Draka's capabilities in the fibre and communication cable industry and as such would represent a major step in the group's strategic development." The proposed combination, which has already received approval, is subject to confirmatory due diligence, agreement on the final legal documentation, and customary regulatory and other approvals. It is expected to be completed by the end of the second quarter of 2004.
