Nokia agrees to buy Alcatel-Lucent for 15.6b euros

Stockholm

NOKIA Oyj agreed to buy Alcatel-Lucent SA in an all-stock deal valued at 15.6 billion euros (S$22.5 billion) to create the world's largest supplier of equipment that powers mobile-phone networks.

Alcatel investors will receive 0.55 Nokia shares for each stock they own, the companies said on Wednesday. The price is equivalent to about 4.12 euros based on Nokia's closing price on Tuesday, or 8 per cent less than Alcatel's last close in Paris. Alcatel shares soared on Tuesday as the companies said they were in talks.