Helsinki Nokia shareholders have overwhelmingly approved the acquisition of ailing French telecom Alcatel-Lucent, removing one of the last hurdles to the 15.6 billion euro deal that will make the Finnish company a market leader in networks.
The authorization for the Nokia board to finalize the takeover came at an extraordinary general meeting Tuesday following last month's launch of a public exchange offer for all outstanding Alcatel shares.
In October, Nokia said it would pay 4 billion euros to shareholders as the company raised its outlook for the year.
CEO Rajeev Suri said he was delighted by shareholders recognizing the "long-term value creation opportunity" of the deal, expected to close during the first quarter of 2016.
Nokia stock was up 2 per cent at 7.09 euros in late Helsinki trading.
The authorization for the Nokia board to finalize the takeover came at an extraordinary general meeting Tuesday following last month's launch of a public exchange offer for all outstanding Alcatel shares.
In October, Nokia said it would pay 4 billion euros to shareholders as the company raised its outlook for the year.
CEO Rajeev Suri said he was delighted by shareholders recognizing the "long-term value creation opportunity" of the deal, expected to close during the first quarter of 2016.
Nokia stock was up 2 per cent at 7.09 euros in late Helsinki trading.
