ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, May 12, 1990                   TAG: 9005120119
SECTION: BUSINESS                    PAGE: A5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

ITT CONSIDERS SALE OF ALCATEL STOCK

ITT Corp. has indicated that it might be willing to sell some or all of its 37 percent share in Alcatel, a joint venture with Compaigne Generale d' Electricite of France, the Wall Street Journal reported Friday.

Alcatel operates a fiber-optics cable manufacturing plant on Plantation Road in Roanoke County. That plant employs about 200 people and shares a building with ITT's night-vision goggle operation.

Outsiders value ITT's stake in Alcatel at about $3 billion, the newspaper reported.

After ITT's annoucement at a stock-analysts meeting in New York on Thursday, the company's stock jumped $2 a share to close at $54.75. By Friday's close, the price was at $57.

Alcatel was formed in 1986, selling its European telecommunications operations to Compaigne Generale d' Electricite in exchange for $1.3 billion and 37 percent of the stock in the joint venture.

ITT spokesmen confirmed that discussions on its position in Alcatel next week after ITT completes its annual meeting, the Journal reported. - Associated Press 


 by CNB