Nokia confirmed on Monday that they already gained control of French counterpart Alcatel-Lucent following its 15.6-billion-euro all share offer. Both companies will start their merge operations next week, Jan 14.
It was in April when Nokia confirmed that they finalized the deal to buy Alcatel-Lucent as they aim to create a major global tech player that can better compete with other tech companies like China's Huawei and Sweden's Ericsson. Now, after the auspicious deal it is expected that the merging can outcompete other tech rivals.
"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," Rajeev Suri, chief executive of Nokia said according to BDlive.
When the merging will officially starts, Nokia will hold 70% of the shares in Alcatel- Lucent, which is currently operating in 130 countries.
Rajeev also said that this coming Jan 14, both "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."
The acquisition is expected that it will eventually help Nokia on becoming the world's number one service provider as well as network equipment as the new acquisition will allow them to expand their services.
To take control, Nokia should at least meet the minimal requirement and that is to gain at least 50% of shares and the voting rights had been "satisfied," the French financial market authority, AMF said.
"The offer, therefore, is proceeding positively," the French regulator concluded.
Rajeev also said that both companies will now move fast to integrate, "We will have unparalleled R&D and innovation capabilities, which we will use to lead the world in creating next-generation technology and services," the Nokia President and CEO said.
With both companies merging together, Nokia, the once famous, phone making giant is expected to regain its strength, after it temporarily lost in the Microsoft deal.
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.
