Alcatel convertible bonds rally on Nokia takeover bet

April 14, 2015 2:58 PM

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LONDON, April 14 (Reuters) - Alcatel Lucent's convertible bonds rallied to record highs on Tuesday as hedge funds and other investors bet on a takeover of the telecoms equipment maker by Nokia, hoping for a windfall profit.

Alcatel's three convertible bonds (CB) had surged by between 20 percent and 33 percent by 1357 GMT after the French company entered talks with Nokia about being acquired by its larger Finnish rival .

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