Nokia Oyj (NOK) said on Monday the Committee on Foreign Investment in the United States has cleared the company’s proposed takeover of Alcatel-Lucent.
The deal received antitrust clearance from the Department of Justice in June, which means it now has all the regulatory approvals in the US. “Each corporations will proceed to work intently with the few remaining antitrust authorities within the related jurisdictions to conclude their regulatory critiques as shortly as attainable”, Nokia stated in a press release.
The approval no doubt comes as a relief to the Finnish company, as regulatory filings in August revealed that Nokia would be subject to up to $440 million in termination fees to be paid to Alcatel-Lucent if it failed to receive the necessary approvals for the $16.6 billion acquisition.
About Alcatel-Lucent (Euronext Paris and NYSE: ALU)Alcatel-Lucent is the leading IP networking, ultra-broadband access and cloud technology specialist. With the volume soaring to 4,176,756 shares, the last trade was called at $3.47. The stock is floating in a range of $6.62 – $6.64. The 52-week low of the share price is $2.28. NOK has a 1-year high of $8.73 and a 1-year low of $5.71.
The company shares have rallied 4.2% in the past 52 Weeks.
Duval: “We see scope for margin improvement given industry consolidation, while Nokia should have a competitive advantage vs. Ericsson given its converged portfolio”.
Mu-Piao Shih, President of Chunghwa Telecom said: “We have made great strides in proactively improving our broadband network service in recent years, and we are pleased to become the first G.fast commercial broadband service provider in the world”. Every success has its network. The content included in this article is just for informational purposes only.
Neither Stocksnewswire.com nor any of Stocksnewswire.com partners make any representation or guarantee as to the fulfillment or precision of the information contained in this article. Institutional Investors own 4.3% of Company shares. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.