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Nokia to buy Alcatel-Lucent for 15.6 billion

by on15 April 2015

Finns bag a French bagette 

Finland's Nokia has bought French Alcatel Lucent in a stock deal worth 15.6 billion euro.

The deal is part of Nokia's cunning plan to become a major provider of networking equipment that competes with market leader Ericsson.

The Nokia and Alcatel-Lucent deal is expected to close the deal in the first half of 2016 and it will have to face the hurdle of the French who are not keen on losing any jobs as a result of the deal.

It is expected that the French will seek guarantees that Nokia will not fire any one, or force anyone to eat Finnish food, like Whale Blubber or Reindeer on French soil. Of course could also surrender completely.

In a statement Nokia said that the combined company will be uniquely positioned to create the foundation of seamless connectivity for people and things wherever they are.

Nokia said this foundation was essential for enabling the next wave of technological change, including the Internet of Things and transition to the cloud.

With more than 40,000 R&D employees and spend of €4.7 billion in R&D in 2014, the combined company will be in a position to accelerate development of future technologies including 5G, IP and software-defined networking, cloud, analytics as well as sensors and imaging."

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