Monday, 18 January 2016 11:26

Nokia, Alcatel-Lucent acquisition closes Featured

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Nokia, Alcatel-Lucent acquisition closes Image courtesy of adamr, freedigitalphotos.net/images

Nokia’s acquisition of Alcatel-Lucent has finally closed with the newly merged company now trading as the Nokia Group of Companies.

The two companies originally signed a Memorandum of Understanding (MOU) last November with Nokia making an offer for all of the equity securities issued by Alcatel-Lucent through a public exchange offer in France and the United States.

The deal involved 0.55 of a new Nokia share for every Alcatel-Lucent share, in an all-share transaction valuing Alcatel-Lucent at EUR 15.6 billion on a ‘fully-diluted basis’ - just over A$21.75 billion.

When the MOU was agreed, Nokia said the combined company would be “uniquely positioned to create the foundation of seamless connectivity for people and things wherever they are,’ with this ‘essential for enabling the next wave of technological change, including the Internet of Things and transition to the cloud.”

In a letter just sent to customers, Nokia has now advised that the majority of Alcatel-Lucent’s shareholders have accepted the public exchange offer by Nokia, with the company now holding nearly 80% of the outstanding Alcatel-Lucent shares.

“Nokia and Alcatel-Lucent legal entities are now affiliates of each other. As defined in the agreement that you currently have with us, those affiliates are hereinafter known as the ‘Nokia Group of Companies’,” the letter says.

“As a result of the combination of the companies into the Nokia Group of Companies, all of the affiliates now have the right to purchase and/or license products (hardware and/or software) and/or services under each other’s agreements currently in place with your company.”


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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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