Nokia taking over Alcatel-Lucent

Nokia has gained control of Alcatel-Lucent after its public exchange offer was approved by the French stock market authority.

The deal goes through on 7 January 2016, with Nokia expecting to hold 76.31% of the share capital, and at least 76.01% of the voting rights of Alcatel-Lucent.

“We will move quickly to combine the two companies and execute our integration plans. As of January 14, 2016, Nokia and Alcatel-Lucent will offer a combined end-to-end portfolio,” said Nokia.

Reuters reported that the acquisition will put Nokia in a stronger position to compete with Sweden’s Ericsson and China’s Huawei.

The market for telecoms network gear has shown limited growth and tough competition recently, which has put pressure on prices, stated Reuters.

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Nokia taking over Alcatel-Lucent