Nokia buying Alcatel-Lucent, creating telecom giant

April 15, 2015 3:01 PM

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Nokia Corp. agreed to acquire struggling French rival Alcatel-Lucent for $16.5 billion in stock in hopes of better competing against other global makers of telecommunications and computing equipment.

The deal announced Wednesday, which would leave Finland-based Nokia as the surviving entity, is expected to be completed in the first half of next year.

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