Nokia buys Alcatel-Lucent to grow in telecom gear

April 15, 2015 6:11 AM

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Nokia buys Alcatel-Lucent to grow in telecom gear

HELSINKI/PARIS (Reuters) - Finnish telecom network equipment maker Nokia has agreed to buy Alcatel-Lucent in an all-share transaction that values its smaller French rival at 15.6 billion euros ($16.6 billion).

Nokia will give Alcatel-Lucent shareholders 0.55 shares in the combined company for each of their old shares, resulting in 33.5 percent of the entity being in Alcatel's hands and Nokia having 66.5 percent if the public exchange offer is fully taken up.

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