US regulator clears Nokia acquisition of Alcatel-Lucent

HELSINKI - Finnish telecom group Nokia announced on Monday it has received all US regulatory approvals needed for its proposed acquisition of Alcatel-Lucent, taking a step closer towards creating the world's biggest supplier of mobile phone network equipment...
Nokia Helsinki
Nokia Helsinki
Following its previous anti-trust clearance from the US Justice department, the acquisition of the French-American company has now also been cleared by the Committee on Foreign Investment in the United States (CFIUS), Nokia said in a statement.

In mid-April Nokia struck a 15.6 billion euro ($17.6 billion) deal to buy its troubled rival Alcatel-Lucent, which only had one year of profit since the company was created in 2006. The tie-up was approved by the European Commission in July.

"Both companies will continue to work closely with the few remaining antitrust authorities in the relevant jurisdictions to conclude their regulatory reviews as quickly as possible," the Nokia statement said.

EU regulators approved the buyout in July.

The proposed transaction, which still needs the approval of Nokia shareholders, aims to open up the North American market for Nokia, which has been dominant in Europe. The deal is expected to close in the first half of 2016.

Source: AFP


SOURCE

I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
Don't miss BizTrends2022 - 7 keynote speakers forecast trends shaping business in our region! Register now!
Read more: Nokia, Alcatel-Lucent

Let's do Biz