Finnish Nokia has finalized the acquisition of its French-American competitor, Alcatel-Lucent. The electronics company says nearly 80 % of all shareholders signed off on Nokia's proposal.
Largest in the world
Nokia's goal was to obtain at least 50 % of Alcatel-Lucent's shares. Suffice to say that it succeeded with nearly 80 % of all shares. All in all, the deal is worth 15.6 billion euro and can now go ahead as the antitrust authority already approved the deal last year.
The two companies will now become the world's largest mobile network suppliers, surpassing Ericsson and Huawei among others, with about 110,000 employees and a joint turnover (in 2014) of 25.9 billion euro. Its market value even exceeds 40 billion euro.
Alcatel-Lucent's acquisition was announced in April 2015, a year after Nokia had sold its smartphone division to Microsoft for 5.4 billion euro.