No its not a step closer to making phones as Nokia fans would like to hear, but it is happening hopefully next year but this strengthens the telecoms and networks end of things so it is good news regardless…The deal puts Nokia among the global market leaders in networks.The European Commission that the two companies have enough to not raise major competition issues differences.
Approval by the European Commission follows previously disclosed antitrust clearances in Brazil and Serbia and the expiration of the antitrust review period in the United States. In addition, the parties confirmed today they have received further antitrust clearances from Albania, Canada, Colombia and Russia. Both companies will continue to cooperate with the remaining authorities to close their reviews as quickly as possible.
The transaction remains subject to approval by Nokia shareholders, Nokia holding over 50.00% of the share capital of Alcatel-Lucent on a fully diluted basis upon completion of the public exchange offer, receipt of other regulatory approvals and other customary conditions. The transaction is expected to close in the first half of 2016.
