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Mobile phone maker Nokia is close to completing a significant deal that would make them a new tech giant in all of Europe.
Venture Beat reports that the Finnish company has just received its clearance from the French Ministry of Economy (MINEFI) to complete its USD16.6 acquisition of France’s Alcatel-Lucent. Two days ago, it has received clearance from the Ministry of Commerce in China. The site added that the company’s next step would be to file the exchange offer in both the US and France, then get approval from Nokia’s current shareholders.
Nokia President and CEO Rajeev Suri said about the receipt of the regulatory requirement, "I would like to thank French Minister of the Economy Emmanuel Macron and his team for the constructive engagement we have enjoyed throughout this process. We now look forward to providing our shareholders with the opportunity to approve the proposed transaction, and to giving Alcatel-Lucent shareholders and convertible bondholders the chance to exchange their securities for shares in Nokia. We firmly believe that this combination is a long-term value creation opportunity for both sets of investors and other stakeholders."
