Nokia Shareholders Approve of Potential $17.6 Billion Acquisition of Alcatel-Lucent
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Photo by David Ramos/Getty Images(NEW YORK) — Nokia shareholders approved a planned $17.6 billion acquisition of French company Alcatel-Lucent, bringing the transaction a step closer to reality.
The deal would allow Nokia to double in size by acquiring Alcatel-Lucent, a key supplier of Internet protocol-based networks, Bloomberg News reports. The deal would still require more than half of Alcatel investors to tender their shares to be completed.
Nokia announced that its shareholders had approved of the deal in a press release Wednesday. Risto Siilasmaa, Chairman of Nokia’s Board of Directors, said that by ratifying the deal, shareholders “have endorsed our strongly-held belief that the combined company will be better positioned to compete as a world leader in network technologies over the long-term.”
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