European shares edge higher, Nokia gains after deal

April 15, 2015 7:18 AM

54 0

LONDON, April 15 (Reuters) - European shares advanced on Wednesday, with Finnish telecom network equipment maker Nokia leading the market higher after agreeing to buy Alcatel-Lucent.

Nokia shares rose 3.1 percent after an all-share transaction that values its smaller French rival at 15.6 billion euros ($16.6 billion). The deal will be finalised in the first half of 2016 and is expected to result in 900 million euros of operating cost savings by the end of 2019, the firms said.

Also read: Consolidated Communications to buy FairPoint in $1.5 billion deal

Read more

To category page

Loading...