Nokia gains control of Alcatel-Lucent; combination set for 14 January

5 Jan 2016

Finnish telecoms equipment vendor Nokia has gained control of Alcatel-Lucent, following its EUR15.6 billion (USD16.9 billion) all-share offer for the French-US company. France’s stock market authority, the Autorite des Marches Financiers (AMF), revealed that Nokia holds 70.52% of Alcatel-Lucent’s share capital on a fully diluted basis, satisfying the minimum tender condition of more than 50% of the firm’s fully diluted share capital. Assuming conversion of the OCEANE convertible bonds tendered into the offer at the improved conversion ratio, Nokia would hold, following settlement of the offer, 79.32% of the share capital and at least 78.97% of the voting rights of Alcatel-Lucent.

‘We are delighted that the offer has been successful, and that Alcatel-Lucent’s investors share our confidence in the future of the combined company,’ noted Rajeev Suri, President and CEO of Nokia, adding: ‘We will move quickly to combine the two companies and execute our integration plans. As of 14 January 2016, Nokia and Alcatel-Lucent will offer a combined end-to-end portfolio of the scope and scale to meet the needs of our global customers.’

Nokia has invited the remaining Alcatel-Lucent securities holders to tender their shares, American depositary shares (ADSs) or OCEANE convertible bonds into the reopened offer, and has said that if it reaches 95% ownership of the share capital and voting rights of Alcatel-Lucent, it intends to squeeze out the remaining shares.

Finland, France,Nokia, Alcatel-Lucent, Nokia Networks (formerly NSN),


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