&lt;Alcatel NV> the telecommunications venture set up by ITT Corp &lt;ITT> and Frances &lt;Cie Generale dElectricite> has accepted a proposal from the Industry Ministry to restructure ITTs former Spanish subsidiary &lt;Standard Electrica SA> a Standard spokesman said. He said Alcatel also has agreed to sell &lt;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 Spains telephone company Compania Telefonica Nacional de Espana SA &lt;TELF.MA> which has a small stake in Standard and is its main customer.
ALCATEL TO RESTRUCTURE SPANISH SUBSIDIARIES