Finland's Nokia is in advanced talks to acquire the wireless infrastructure business of telecom firm Alcatel-Lucent, reports said.
The announcement of a deal could come "quickly", an unnamed source told French business newspaper Les Echos on Monday, while Bloomberg News quoted sources as saying Nokia could announce an agreement "as early as this week".
Rumours have swirled since December of a possible deal between Nokia and its Franco-American rival, and Les Echos said executives had been in negotiations since January.
The purchase would represent a significant boost in market share for Nokia. The Alcatel-Lucent unit accounted for 36 percent of total sales for the Paris-based company in 2014, according to Bloomberg, generating 4.7 billion euros ($5 billion) in revenue.
The deal would help Nokia bolster its mobile infrastructure business against Swedish arch-rival Ericsson, profiting from Alcatel's position as a leading supplier of 4G and LTE mobile networks and related services.
Nokia is seeking the French government's blessing for the purchase, Bloomberg said, and is working with the authorities in an attempt to preserve research jobs in France.
The two firms declined to comment on the reports.
Source: AFP
GMT 12:09 2018 Sunday ,09 December
Investment minister witnesses MoU to support clean technology start-up acceleratorGMT 10:25 2018 Friday ,07 December
Venezuela inks deals worth six bn dollars with RussiaGMT 15:42 2018 Tuesday ,04 December
EBRD President Suma Chakrabarti to visit EgyptGMT 08:27 2018 Sunday ,02 December
G20 leaders back WTO reform despite clear divisionsGMT 08:27 2018 Tuesday ,27 November
Eurasian Economic Union to protect itself from anti-Russian sanctionsGMT 12:21 2018 Sunday ,25 November
Egypt's Investment minister meets Lebanese PM to boost economic cooperationGMT 21:47 2018 Friday ,23 November
French lawmakers fear intimidation by 'yellow jacket' fuel protestersGMT 11:56 2018 Tuesday ,20 November
South Korea hosts Boao Forum for Asia in SeoulMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor