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Nokia to officially announce acquisition of Alcatel-Lucent mid-January: Source - Daily News Egypt

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Nokia to officially announce acquisition of Alcatel-Lucent mid-January: Source

Acquisition will contribute to increasing company's business size and provide integrated solutions, says official


Nokia is expected to officially announce within days the completion of the acquisition of Alcatel-Lucent, which was announced last April, an official source at the Nokia Corporation in Egypt told Daily News Egypt.

The source said that the details of the deal will be announced after all the legal matters are finalised, which is expected to take place mid-January 2016.

The source believes that the acquisition will give Nokia more power in the networking and communications solutions market and will contribute to increase its global market share and its business size. The acquisition will also help provide integrated solutions to its customers’, whether they are mobile phone operators or telecommunications companies.

The acquisition is also expected to strengthen the company staff, especially since French company Alcatel-Lucent is a prominent company in the field of communications and networking solutions globally and has been one of the key players in this market.

Nokia announced in April its intention to acquire Alcatel-Lucent for €15.6bn. By virtue of the agreement, shareholders at Alcatel-Lucent will own 33.5% of the new company against 66.5% for the shareholders at Nokia.

This merger will lead to the formation of a European industrial group for the manufacturing of communications equipment worth more than €40m. The market share of Nokia after the completion of the acquisition will amount to 35%, putting it in second place after the Swedish company Ericsson, which has a market share of 40%.

According to a previous joint statement issued by the two companies, the merger will lead to a reduction in operating costs worth €900m by 2019.

 

Topics: Nokia

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