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.