Nokia to acquire French firm Alcatel for €15.6 billion

April 18, 2015: There are rumours and speculations around last week about the french telecom company Alcatel, now the Nokia officially confirmed that they are acquiring Alcatel-Lucent, in a bid to become a leading global networks.
                     
As france24.com reports, the finish company said all the-share transactions will be on the basis of 0.55 of a new Nokia share for every share of Alcatel-Lucent. The share offer values the French concern at 15.6 billion euros.

The shareholder of the french company will hold 33.5 percent of the fully diluted share capital of the combined company, with Nokia shareholders owning 66.5 percent.

The deal has been approved by both company's board of directors and is expected to close in 2016 subject to regulatory and other approvals, Nokia said.

Both company's chief executives, Nokia 's Rajeev Suri and acquired company's Michael Combes, met with the French President briefly on last Tuesday, and french authorities said it will support the deal.

Nokia's soaring smartphone market led to huge loses to company and many manufacturing units globally has been shut off, following which in 2013, Microsoft acquired it in a deal worth €5.4billion.

Source: NewsWires, Image Courtesy: PCtechmag.com
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About Mohammed Rizwan

An Electronics Engineer by education, a part-time blogger by passion. He loves everything about technology, hence he writes about it. Interest includes Technology, Startups and Mobile Applications.
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