Nokia gains control of French rival Alcatel-Lucent

Nokia gains control of French rival Alcatel-Lucent
Nokia Chief Executive Stephen Elop unveils Nokia's new smartphone, the Lumia 1020 with a 41-megapixel camera, in New York July 11, 2013. REUTERS/Shannon Stapleton (UNITED STATES - Tags: BUSINESS TELECOMS) - RTX11K1F

New Delhi : Finnish multinational communications and information technology company, Nokia, has said that it has gained control of French rival Alcatel-Lucent following its 15.6-billion-euro (USD17 billion) all-share offer.

Formally, the two telecom equipment makers will start working as an operationally combined group from January 14.

“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. We will move quickly to combine the two companies and execute our integration plans,” Nokia Chief Executive Rajeev Suri said in a statement.

“As of January 14, 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. We will have unparalleled R&D and innovation capabilities, which we will use to lead the world in creating next-generation technology and services,” Suri added.

Founded in 1865, Nokia is headquartered in Helsinki’s metropolitan area. The company currently focuses on large-scale telecommunications infrastructures, and technology development and licensing. (ANI)