Nokia – a name that once was among some of the biggest companies in the markets of technology, and over the past few years has been reduced to a shadow of what they once were. However, the company has been trying hard to bounce back into the markets, and after selling off their mobile phone division to Microsoft Corporation, the company is now looking forward towards a newer future and a new start in a similar direction. It has been recently noted that will be completing their acquisition of Alcatel-Lucent in the third quarter of the year.
By January, Nokia was already holding 80% of the shares of the French-American company, and they are now looking forward to gain a 100% control over them in the next few months.
“Nokia expects to cross 95 percent ownership thresholds in Alcatel-Lucent and announces intention to file a public buy-out offer in cash for the remaining Alcatel-Lucent securities followed by a squeeze-out. Following these transactions, Nokia will own 95.33 percent of the share capital and 95.26 percent of the voting rights of Alcatel-Lucent, corresponding to 95.16 percent of the Alcatel-Lucent shares.” Nokia said in a statement.
On Thursday, Nokia had said that they were settling the ownership issue “through privately negotiated transactions”.
Over the last two and a half years, the company has been slowly making many changes, which includes deals with Siemens, selling off their mobile phone division to Microsoft, selling off the HERE Maps, and taking over Alcatel-Lucent. In their first earnings announcement since the Alcatel Lucent deal, Nokia reported a first-quarter net loss of EUR 513 million ($583 million) in May.
However, things are all set to get better as Nokia looks forward to a better, newer, and a more refreshed start in the markets of mobile phone technology with the Alcatel-Lucent deal. Nokia would soon be back where they belong – the mobile phone markets.