Nokia completed acquisition of Alca-Lucent for 15.6 billion euro

231

Who: French telecom company Alca-Lucent
What: Acquired by Nokia Corporation
When: 5 January 2016

Nokia Corporation on 5 January 2015 announced that it completed the regulatory formalities for acquiring the French telecom equipment company Alca-Lucent.

The deal, worth 15.6 billion euro, was signed in 2014 and later approved by the European Commission.

With this acquisition, Nokia holds 79.32 percent of outstanding Alcatel-Lucent shares and at least 78.97 percent of the French company’s voting rights.

Further, the deal is expected to help the company in competing globally with the likes of Ericsson and Huawei in the telecommunications field.

About Nokia Corporation

• It is a Finland based multinational communications and information technology company.
• It was founded in 1865 and operates across 120 countries.
• In April 2014, its mobile phone business unit was acquired by the Microsoft in a deal worth 5.44 billion euro.
• At present, Rajeev Suri, an Indian, is the President and CEO of the company.