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Rap Sheet

Author:

LongTerm CapGains

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Date:

07/24/15 at 5:47 AM CDT

 

 

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European Commision approves NOK-ALU merger

Seems to me this merger is moving faster than thought, just might get done in the first quarter of 2016:

EUROPEAN COMMISSION APPROVES NOKIA'S PROPOSED ACQUISITION OF ALCATEL-LUCENT

ESPOO, Finland, July 24, 2015 (GLOBE NEWSWIRE) -- Nokia(NOK) today announced that it has received approval from the European Commission for its pending acquisition of Alcatel-Lucent. The proposed transaction was notified to the European Commission on June 19, 2015 and was cleared today without conditions following a Phase 1 review.

Approval by the European Commission follows previously disclosed antitrust clearances in Brazil and Serbia and the expiration of the antitrust review period in the United States. In addition, the parties confirmed today they have received further antitrust clearances from Albania, Canada, Colombia and Russia. Both companies will continue to cooperate with the remaining authorities to close their reviews as quickly as possible.

The transaction remains subject to approval by Nokia shareholders, Nokia(NOK) holding over 50.00% of the share capital of Alcatel-Lucent on a fully diluted basis upon completion of the public exchange offer, receipt of other regulatory approvals and other customary conditions. The transaction is expected to close in the first half of 2016.

 

 

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