China’s Ministry of Commerce on Monday approved Nokia’s proposed acquisition of French rival Alcatel-Lucent with conditions, almost completing the 15.6 billion euro deal’s antitrust process.
The ministry said the Finnish telecom network equipment maker had agreed to meet certain terms by Dec. 10, mainly relating to the use of wireless telecommunication standards and patent licensing.
The terms were imposed in keeping with China’s anti-monopoly regulation to ensure market competition isn’t harmed by the takeover, it added in a statement on its website.
As part of its talks with China, Nokia in August agreed to create a joint venture, Nokia Shanghai Bell, with China’s state-owned Huaxin.
“We look forward to maintaining our deep commitment to China and playing a key role in the country’s shift towards an innovation-driven economy,” Nokia chief executive Rajeev Suri said in a statement on Monday.
Nokia and Alcatel still need formal approval from the French government, after which Nokia will proceed with its all-share offer. The takeover is expected to close in the first half of 2016.
Full content: The Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI