Alcatel shares dive after PM threatens to veto job cuts

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Prime minister Jean-Marc Ayrault threatens to block the loss of 900 jobs in France unless the layoffs and plant closures are scaled down.

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Shares in telecom-equipment group Alctael-Lucent plunged by 5.81 percent on Wednesday, as controversy built up over a restructuring plan to cut 10,000 jobs worldwide and 900 jobs in France, reports FRANCE 24.