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Nokia buys Alcatel-Lucent for $16.6 billion

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Nokia will issue 0.55 shares of stock for every outstanding Alcatel-Lucent share, giving Alcatel-Lucent shareholders 33.5% of the merged company when the transaction is complete. Nokia shareholders will own 66.5 percent of the new outfit.

Though Nokia will remain its Headquarters in Finland, it will maintain strong research facilities in France and nominate a vice chairman from Alcatel-Lucent.

The acquisition of the ailing French telco which has been making losses will see Nokia emerge as a top network equipment manufacturer against the likes of Ericsson and Huawei. Nokia shofted focus to networks after selling its smartphone business to Microsoft.

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Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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