London, April 15
As part of the deal, Nokia will give Alcatel-Lucent shareholders 0.55 shares in the combined company for each of their old shares, while Alcatel shareholders will own 33.5% shares of the company and Nokia shareholders 66.5%.
The combined entity will be called Nokia and chaired by current Nokia chairman Risto Siilasmaa.
The combined sales of the two companies last year were about 26 billion euros and post-merger the proposed entity will have a total workforce of about 1.14 lakh.
This will be the biggest deal in the telecom industry since 1999 when Lucent Technologies bought Ascend Communications for about $21 billion and is comparable to Alcatel's purchase of Lucent in 2006 for $13.4 billion in 2006.
It will be bigger than Espoo, Finland-based Nokia's record acquisition of map provider Navteq Corp for about $8 billion in 2008. — PTI
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