NOKIA Clears Way for its Pending ALCATEL-LUCENT Procurement

Nokia announces that it will procure pending acquisition of Alcatel-Lucent after it has received approval from the European Commission without conditions following a Phase 1 review. The transaction remains subject to approval by Nokia shareholders, Nokia 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.

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 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 is expected to close in the first half of 2016.