Nokia hopes to become number one as shareholders approve Alcatel-Lucent merger

03 December,2015 12:00 PM IST |   |  Jagran Post

Shareholders in Finnish telecom group Nokia approved the company's acquisition of French-American rival Alcatel-Lucent at an extraordinary general meeting in Helsinki

Nokia


Helsinki: Shareholders in Finnish telecom group Nokia approved the company's acquisition of French-American rival Alcatel-Lucent at an extraordinary general meeting in Helsinki.

They backed the merger plan without a vote, since none of the shareholders present raised any objections.

"While our portfolios are highly complementary, our cultures have many similarities," chief executive Rajeev Suri said about the deal.

"The strategic logic remains as compelling yesterday as on the day when we announced the transaction," he added.

Once the world's top mobile phone makers, Nokia hopes the merger will help it become the world's number one network equipment and service provider, with the combined revenue of both companies standing at nearly 25 billion euros (USD 26.5 billion).

The next step is for the Finnish group to conclude its public exchange offer in which it is offering 0.55 Nokia shares for each Alcatel-Lucent share.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!
Related Stories