Nokia agrees €15.6bn deal to buy Alcatel-Lucent

GMT 06:30 2015 Wednesday ,15 April

Arab Today, arab today Nokia agrees €15.6bn deal to buy Alcatel-Lucent

Paris - Arab Today

Nokia has struck a 15.6billion euro deal to buy its rival Alcatel-Lucent to create the world's biggest supplier of mobile phone network equipment, both companies said Wednesday.

The Finnish telecom giant has agreed to give shareholders in its Franco-American rival 0.55 shares in the new merged company for every one of their own.

The new group will be based in Finland and will be run by Nokia's current management team.

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