Alcatel-Lucent board approves Nokia merger
Alcatel-Lucent’s board of directors has approved its €15.6 billion acquisition by Nokia.
The company has completed its merger consultation with its French Group Committee as required by French regulation. The group indicated that it does not oppose the merger, leading Alcatel-Lucent’s board to express its support for the deal.
"The board is very pleased to see that the consultation of Alcatel-Lucent's French group committee on the proposed combination with Nokia has been completed in line with the contemplated timing," said Alcatel-Lucent chairman Philippe Camus. "It encourages both teams to continue working towards the creation of a European champion and global leader in ultra-broadband, IP networking and cloud applications, for the benefit of our clients, employees and shareholders."
The opinion of the French Group Committee will be submitted as part of Alcatel-Lucent’s offer response to French financial markets regulator, the Autorité des Marchés Financiers (AMF).
The proposed transaction is subject to approval by Nokia’s shareholders. The companies are expected to close the deal in the first half of 2016.