Furukawa to sell off JDS Uniphase stake
Japan’s Furukawa Electric on Monday announced it would sell part of its holdings in optical components manufacturer JDS Uniphase to raise capital for its purchase of Lucent Technologies’ fiber optics unit.
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Furukawa will sell off a 1.6% stake, reducing its ownership to 8.2% and raising $198 million in capital gains. Furukawa has agreed to take most of the Lucent fiber unit for $2.5 billion in cash. Corning has agreed to purchase the remainder of the unit for $225 million.
--Kevin Fitchard, staff writer
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© 2012 Penton Media Inc.
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