Lucent Technologies is unlikely to get much of a return on the sale of a mobile network it built for failed Australian telco One.Tel, analysts have said.
An executive from the US telecoms equipment giant said recently that the group expected to get "good value" for the network.
"And pigs might fly," said independent telecoms analyst Paul Budde.
Budde said that even though the equipment was first class he expected it to go at a bargain rate, AU$200 million to AU$300 million at best, even if Lucent bought One.Tel's spectrum rights to accompany the network from the administrator.
The 2.5 generation-capable network Lucent was building for One.Tel was to cost more than AU$1 billion but construction was not complete when One.Tel was put into administration in late May.
Lucent, One.Tel's largest secured creditor, had submitted a AU$1.28 billion claim, including more than AU$600 million for network construction, according to One.Tel's administrator.
Analysts said there was not a single clear candidate that would have a lot to gain by picking up the unfinished network.
"It's hard to see who the buyer will be given that the existing players are fairly well focused and the equity out there is not really available for someone to come in and say 'hey this is a good new opportunity'," said Peter McIver, telecommunications partner at Deloitte Touche Tohmatsu.
