Nokia has launched a €15.6bn agreed all-share takeover offer for Alcatel-Lucent aimed at creating a Finnish-French rival to Ericsson and Huawei in the telecoms equipment industry.
The Finnish company said on Wednesday that it would offer 0.55 new shares in Nokia for every Alcatel share, which it said was equivalent to €4.27 a share, a 28 per cent premium over the French group’s average stock price over the past three months.
Nokia’s chief executive and chairman will both continue in their jobs in the new company — to be called Nokia Corporation — and the Finnish group’s shareholders will own about 66.5 per cent of the combined business, which will remain headquartered just outside Helsinki.