The French government is concerned about Alcatel-Lucent's plan to use patents as collateral for a 1.6 billion euro ($2.1 billion) loan because the intellectual property could fall into the hands of foreign banks, Les Echos newspaper reported.
On Friday, the loss-making telecom equipment maker said it had agreed an asset-backed loan from Credit Suisse and Goldman Sachs to help it deal with upcoming debt maturities and fund its ongoing restructuring.
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Les Echos said in its Monday edition the government was working on two alternate responses - helping Alcatel-Lucent sell assets, such as its submarine cable and enterprise businesses, or setting up a consortium to monetize the patents.
This would allow outside groups to invest while keeping Alcatel-Lucent as a co-owner of its patents.
An Alcatel-Lucent spokeswoman declined to comment on the report.
The government has not intervened at Alcatel-Lucent even after it announced a job cut plan affecting 5,500 people.
Caisse de Depots et Consignations, the government fund that manages pensions and investments for the state, owns 3.6 percent of Alcatel-Lucent.
($1 = 0.7628 euro)
(Reporting by Leila Abboud; Editing by Dan Lalor and David Holmes)