Lucent Technologies is sticking closely with Morgan Stanley for financial advice but is receptive to other banks for restructuring services as its latest business closure effectively writes off over $4bn (€4.4bn) it paid for a fibre optic business last year.

Lucent said earlier this week that it was closing down its Metropolis MSX fibre optic technology product. Lucent bought Chromatis Networks, an Israeli-US technology business, last year for $4.5bn to add the MSX product to its portfolio of optical products.