French Regulator Accepts Nokia’s Takeover of Alcatel-Lucent

Nokia is diving headlong into 2016 with a move that will change it into one of the world’s leading broadband equipment suppliers. On Monday France’s stock market governing body revealed that Finnish telecom group Nokia’s all-share offer for French-American competitor Alcatel-Lucent had been fruitful.

French Regulator Accepts Nokia’s Takeover of Alcatel-Lucent

Nokia and Alcatel will now move swiftly to incorporate, said Nokia President and CEO Rajeev Suri.

Rajeev Suri said:

“We will have unparalleled R&D and innovation capabilities, which we will use to lead the world in creating next-generation technology and services.”

In a provisional report the French Financial Market Authority, AMF said that Nokia currently holds almost 76 percent of shares and voting rights in Alcatel. The report revealed that the “minimal condition” for Nokia to control at least 50 percent of shares and voting rights had been “satisfied”.

“The offer therefore is proceeding positively.”

The French regulator said.

The French regulator further added that its concluding report was due Tuesday at the latest. Formerly the world’s top mobile phone maker, Nokia expects the merger will support it to become the world’s leading network equipment and service provider. The two companies will start to merge their maneuvers January 14, which should give Nokia a lift against the competition and could ultimately develop broadband quality for consumers around the globe.

It will also enable Nokia to extend from telecoms networks to Internet networks and “cloud” services to contest better with its international rivals, the Swedish group Ericsson. The merged group judges a mutual revenue of approximately 25 billion euros ($27.3 billion).

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