Nokia agrees to buy Alcatel-Lucent for $16.6 billion

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Jarvis
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Nokia has announced its intention to acquire telecoms equipment company Alcatel-Lucent for €15.6 billion ($16.6 billion). The deal will solidify Nokia's ambitions to become a major provider of networking equipment that competes with market leader Ericsson, following the sale of its mobile hardware division to Microsoft. Nokia and Alcatel-Lucent plan to close the deal in the first half of 2016. The new company is expected to use the Nokia brand, but will retain Alcatel-Lucent's Bell Labs name for its R&D activities.

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