Nokia gains control of Alcatel-Lucent

Reuters News
Posted: Jan 04, 2016 2:52 AM

HELSINKI (Reuters) - Telecom network gear maker Nokia has gained control of French rival Alcatel-Lucent following its 15.6 billion euro ($17 billion) all-share offer and the two will combine on Jan. 14, the Finnish company said on Monday.

Nokia said that the French stock market authority has declared the offer successful, with interim results showing that Nokia would hold around 79 percent of Alcatel shares.

"The two companies will begin to progress their integration plans, with the first day as an operationally combined group on January 14, 2016," Nokia said in a statement.

(Reporting by Jussi Rosendahl, editing by Louise Heavens)