Nokia secures control of French group Alcatel-Lucent

The Finnish telecommunications group Nokia said Monday that it has gained control of Alcatel-Lucent of France through a public exchange offer, securing almost 80 per cent of the French firm's share capital and voting rights.

The groups announced plans to merge in April, and Nokia offered to buy the French group's shares through a public exchange offer in France and the United States on the basis of 0.55 of a new Nokia share for every Alcatel-Lucent share.

It valued Alcatel-Lucent at 15.6 billion euros (16.5 billion dollars).

The merger is part of Nokia's move to focus on providing broadband infrastructure software and services after it sold its loss-making handset business in 2014 to the US software giant Microsoft.

Nokia said initial results from the French stock market authority, Autorité des Marchés Financiers, concluded that Nokia's public exchange offer for Alcatel-Lucent securities in France and the US had been "successful".

The combined group was set to begin operating on January 14, Nokia said in a statement.

Last update: Mon, 04/01/2016 - 11:16

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