Nokia To Acquire Alcatel-Lucent Convertible Bonds

(RTTNews) - Nokia (NOK) agreed to acquire 72.99 million of the 688.43 million euros Alcatel-Lucent bonds convertible into new Alcatel-Lucent shares or exchangeable for existing Alcatel-Lucent shares due on January 30, 2019 and 19.94 million of the 460.29 million Alcatel-Lucent bonds convertible into new Alcatel-Lucent shares or exchangeable for existing Alcatel-Lucent shares due on January 30, 2020.

Nokia has agreed to acquire the OCEANEs through a privately negotiated transaction in consideration for an aggregate cash payment of 418.95 million. The settlement of the transaction is expected to occur on or around May 16, 2016.

Following this transaction Nokia is expected to own 94.64% of the share capital and 94.57% of the voting rights of Alcatel-Lucent, corresponding to 94.17% of the Alcatel-Lucent shares on a fully diluted basis.