ALCATEL TO RESTRUCTURE SPANISH SUBSIDIARIES
<Alcatel NV>, the telecommunications
venture set up by ITT Corp <ITT> and France's <Cie Generale
d'Electricite>, has accepted a proposal from the Industry
Ministry to restructure ITT's former Spanish subsidiary,
<Standard Electrica SA>, a Standard spokesman said.
    He said Alcatel also has agreed to sell <Marconi Espanola
SA>, owned 80 pct by Standard and 20 pct by Alcatel.
    Negotiations to put Standard on a sounder financial footing
have involved the government, Alcatel and Spain's telephone
company, Compania Telefonica Nacional de Espana SA <TELF.MA>,
which has a small stake in Standard and is its main customer.
 Reuter
