CFIUS gives nod to Nokia-Alcatel Lucent buyout

NEW DELHI: Finland-based telecom equipment manufacturer Nokia Networks has obtained clearances from the Committee on Foreign Investment in the United States ("CFIUS") for its proposed acquisition of Alcatel-Lucent.

The proposed transaction is expected to close in the first half of 2016.

With the conclusion of the CFIUS process and the previously announced antitrust clearance by the US Department of Justice, the companies have received the required regulatory approvals for the proposed transaction in the United States.

Both companies will continue to work closely with the few remaining antitrust authorities in the relevant jurisdictions to conclude their regulatory reviews as quickly as possible.

The proposed 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 the remaining regulatory approvals and other customary conditions.