Alcatel-Lucent News

Nokia plans to cut up to 200 more jobs in Finland because of weak demand for its telecom network equipment.

Telcoms giant Nokia said that falling network sales and costs stemming from acquisitions and its integration of Alcatel-Lucent had resulted in a "disappointing" loss in 2016.

Nokia, the world's number one mobile phone maker for more than a decade until 2012, had struck a deal to buy the other firm in April 2015 but has struggled to buy up the remaining shares to gain full control of the company.

The world's former top mobile phone maker had gained control of 80 percent of Alcatel-Lucent's shares by January but has struggled to mop up the remaining shareholders to gain full control of the company.

Telecom network equipment maker Nokia is planning to cut thousands of jobs globally, including 1,400 in Germany and 1,300 in its native Finland, as part of a cost-cutting programme following the acquisition of Alcatel-Lucent earlier this year.

Shareholders in Finnish telecom group Nokia approved the company`s acquisition of French-American rival Alcatel-Lucent at an extraordinary general meeting in Helsinki on Wednesday.

Finnish telecom gear maker Nokia Monday said Sandeep Girotra would become the Head of India as part of the planned merger of the company and Alcatel-Lucent.

Finnish telecom gear maker Nokia on Wednesday announced appointment of executives who will head various units after completion of Alcatel-Lucent's merger, with officials from Nokia dominating the merged entity.

Finnish telecom group Nokia announced Monday it has received all US regulatory approvals needed for its proposed acquisition of Alcatel-Lucent, taking a step closer towards creating the world's biggest supplier of mobile phone network equipment.

The head of telecoms equipment maker Alcatel-Lucent rejected government pressure Monday to renounce bonuses which could see him receive around 14 million euros (USD 15.7 million) as part of its buyout by rival Nokia.

Finnish telecom equipment maker Nokia on Friday said it has agreed to create a joint venture in China with state-owned Huaxin, following Nokia`s proposed takeover of Alcatel-Lucent.

Shares in telecom network gear makers Nokia and Alcatel-Lucent jumped on Thursday after both posted strong second-quarter results, giving a positive signal ahead of their pending merger.

The European Commission said on Friday it had approved Finnish telecom equipment group Nokia`s planned purchase of Alcatel-Lucent because the two were not close competitors and would still face strong global competition.

The U.S. Department of Justice has given a green light to Nokia`s deal to buy French rival Alcatel-Lucent, the two companies said on Wednesday.

Alcatel-Lucent earns almost half its revenue in North America where it supplies mobile and broadband gear to Verizon and AT&T.

This will create an entity with a combined market cap of about 45 billion euro (close to USD 49 billion) and a revenue base of around 26 billion euro (about USD 28 billion).

Nokia has pledged not to cut French jobs for two years after the closure of the deal, beyond what Alcatel had already planned.

Sweden`s Ericsson , the world`s biggest maker of mobile telecoms equipment, will probably have to expand its range of fixed line products to defend its turf following Nokia`s purchase of Alcatel-Lucent.

Finish telecom network equipment maker Nokia on Wednesday announced acquisition of French firm Alcatel-Lucent in an all-stock deal valued at 15.6 billion euros (USD 16.6 billion).

The deal will be finalised in the first half of 2016, the companies said.