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Alcatel-Lucent improves signal-to-noise ratio Add to ...

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Restructuring plans are tough to call in the early stages. Unless executives are being wildly unrealistic, end-targets will look appealing and the path to achieving them, plausible. The question is whether a myriad of management moves needed to deliver the goals can be smoothly implemented. Investors in Alcatel-Lucent, the telecoms equipment group which has been in overhaul mode ever since being formed by a 2006 merger, know this better than anyone. Even so, they should be heartened by Tuesday’s results, the first under chief executive Michel Combes, who took over in April.

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