The deal between Nokia and Alcatel-Lucent is almost drawing to a close. The European Commission has given its approval to the Finnish company to acquire the French global telecom equipment company for $16.6 billion.
It was a big contract win for Alcatel Lucent SA (ADR) (NYSE:ALU). The company was awarded a big 4G deal by China Telecom, which would make it one of the three top suppliers of high-speed mobile broadband access.
Alcatel Lucent SA (ADR) (NYSE:ALU) plans to update on its new growth strategy later this year. The company is entering the final leg of its turnaround plan and CEO, Michel Combes, said he remains focused on completing the process successfully.
Nokia Corp (ADR) (NOK) stock has fallen 20% this year, with investors realizing that it is going to take some time to create the cost savings and operating synergies that the company promised investors when it merged with Alcatel Lucent SA (ADR) (ALU).