Alcatel moves HQ to China

Alcatel moves HQ to China

SHANGHAI (Reuters): French telecommunications equipment giant
Alcatel said on Monday it will put its new Asia-Pacific
headquarters in Shanghai in a vote of confidence in the Chinese
market.

"All-in-all, Alcatel is now betting considerably on China,"
said chairman and chief executive officer Serge Tchuruk.

"We chose Shanghai as the headquarters of Alcatel to position
ourselves for the future," he told a news conference.

China's commercial hub pipped Hong Kong, Singapore and Sydney
for the regional headquarters. Alcatel previously had no formal
Asia-Pacific base, with decision making centralized in Paris.

The move, to be carried out over the next few months, would
involve shifting management and business divisions for 15 Asian
countries stretching from Brunei to New Zealand.