Alcatel's strategic undersea cables unit to be swallowed by Nokia

Alcatel-Lucent said on Tuesday it will not sell its undersea cables unit, meaning the strategic business which underpins the global Internet will be taken by Nokia once it completes its acquisition of the Franco-American group. The Finnish firm said in April the 15.6 billion euro ($17 billion) acquisition of network gear maker Alcatel-Lucent as they aim to better compete with market leader Ericsson and low-cost Chinese powerhouse Huawei [HWT.UL]. Alcatel had previously said it planned to sell a