Nokia Gets Chinese Ministry's Clearance For Acquisition Of Alcatel-Lucent

(RTTNews) - Finnish based Nokia Corp. (NOK) Monday said it has received antitrust clearance from the Chinese Ministry of Commerce or MOFCOM for its proposed acquisition of Alcatel-Lucent and thus completing the antitrust review process for the deal.

Nokia will file for public exchange offer for Alcatel-Lucent securities to get approval from France's Ministry of Economy or MINEFI. The closing of the exchange offer is expected in the first half of 2016.

Further Nokia plans to create a joint venture in China with China Huaxin Post & Telecommunication Economy Development Center to combine Nokia's telecommunications infrastructure businesses in China with Alcatel-Lucent Shanghai Bell. As revealed on August 28, Nokia plans to hold 50 percent plus one share in the joint venture and would operate under the English name Nokia Shanghai Bell.

It was in last April that Nokia announced the offer to acquire its minor French rival Alcatel-Lucent in $16.6 billion all stock deal.