NEW DELHI: Finland-based Nokia Oyj is in advanced talks with Alcatel-Lucent to buy the latter’s mobile networks business with an aim to strengthen its core business in the United States and China.
Confirming media reports, Alcatel-Lucent told Voice&Data: “Nokia and Alcatel-Lucent are in advanced discussions with respect to a potential full combination, which would take the form of a public exchange offer by Nokia for Alcatel-Lucent. There can be no certainty at this stage that these discussions will result in any agreement or transaction.”
A further announcement will be made when appropriate, it said.
The deal would be a win-win situation for Nokia and Alcatel as it could streamline their costs to massive extent.
Earlier, media reports had said that meetings between managers at the two companies had increased since January and an announcement was likely to come soon.
However, Alcatel and Nokia did n’t confirm the news.
The companies had examined a full takeover of Paris-based Alcatel, but Nokia was more likely to buy the wireless business.