Nokia gain almost 80% of Alcatel-Lucent shares through public exchange offer

Nokia gain almost 80% of Alcatel-Lucent shares through public exchange offer

Based in Helsinki, Nokia Corporation was a leader in the mobile phones market until 2007, when Apple launched the first iPhone. The following year, the Finnish telecommunications company fell into rapid decline, and by 2012 Nokia was operating at a loss. In 2013, it bought out its networking equipment joint venture with Siemens and sold its handset business to Microsoft.

Alcatel-Lucent is a French global telecommunications equipment company with headquarters in Boulogne-Billancourt, France. The company focuses on fixed, mobile, and converged networking hardware, IP technologies, software and services, with operations in more than 130 countries.

After stating their intent last April, Nokia has gained 79% control of French rival Alcatel-Lucent following its €15.6 billion all-share offer.

“The two companies will begin to progress their integration plans, with the first day as an operationally combined group on January 14, 2016,” Nokia said in a statement.

With the completion of this deal, Nokia will have a large share of the networking equipment market, ahead of China’s Huawei (20%) and rivalling Sweden’s Ericsson (40%). The deal will expand Nokia’s mobile equipment portfolio with Alcatel-Lucent’s fixed-line gear, giving the company the edge over Ericsson, when it comes to selling systems that can offload increasing wireless data traffic.

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