EC gives green light to Nokia's proposed acquisition of Alcatel-Lucent

Acquisition overcomes further regulatory hurdle without conditions being imposed

EC gives green light to Nokia's proposed acquisition of Alcatel-Lucent

Nokia Networks received approval from the European Commission for its pending acquisition of Alcatel-Lucent last week. The proposed transaction was notified to the European Commission on 19 June 2015 and was cleared on 24 July without conditions following a Phase 1 review.

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.

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