Paris
Nokia and Franco-American competitor Alcatel-Lucent announced Wednesday its merger into a new group called Nokia, based in Finland and led by the current directors of the Finnish company.
The merger will be through a public offer to exchange shares that take the value of Alcatel-Lucent to $ 16,500 million, the company said in a statement.
The agreement was approved by the boards of both companies and is expected to close next year, which will depend on regulatory approval.
The new company will be called Nokia Corporation, will be based in Finland and is the second largest manufacturer of mobile networks in terms of market share, behind only Sweden’s Ericsson.
Nokia employs 55,000 people around the world, Alcatel-Lucent around 53,000
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According to the company Bernstein Research, a specialist in the telecommunications market, the conclusion of the operation, which has yet to receive the necessary authorizations, Nokia will have a 35% share in the market for wireless networks, compared to 40% of Ericsson and 20% of the umpire, China’s Huawei.
“Together, Alcatel-Lucent and Nokia intend to lead the next generation of technologies and network services,” said in a statement the CEO of Nokia, the Indian Rajeev Suri.
From the sale to Microsoft, Nokia has retained the essence of EUR 5,400 million ($ 5,750 million) obtained of that operation.
Its strategy focuses on innovation in mobile technologies and the development of geolocation systems.
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