Nokia Wins Approval for Alcatel Deal as EU Sees Samsung Rivalry
2015-07-24 10:08:45.244 GMT
By Gaspard Sebag
(Bloomberg) -- Nokia Oyj’s bid for Alcatel-Lucent SA won
unconditional approval from European Union merger watchdogs who
predicted growing rivalry with Samsung Electronics Co. in
evolving markets for mobile-phone technology.
The transaction to create the biggest maker of equipment
that underpins mobile-phone networks won’t prevent tough
competition in Europe from Ericsson AB and Huawei Technologies
Co. across the 28-nation EU, the European Commission said in an
e-mailed statement on Friday. Other global competitors such as
Samsung and ZTE Corp. are on the rise, the regulator said.
“In particular, Samsung is expected to play a more
significant role in the near future in relation to the newest
generation mobile telecommunications equipment -- so-called 4G,
currently being deployed, and 5G,” the commission said.
Nokia’s biggest acquisition would result in a supplier that
surpasses Ericsson and Huawei in wireless-infrastructure
revenue. Nokia Chief Executive Officer Rajeev Suri will run the
enlarged company, which will bolster its position in China, a
market of 1.3 billion mobile subscribers, and take on contracts
with the two biggest U.S. carriers -- Verizon Communications
Inc. and AT&T Inc.
For Related News and Information:
Nokia Bets $16.6 Billion in Alcatel Deal Creating Network Leader
Top Stories:TOP<GO>
--With assistance from Adam Ewing in Stockholm.
To contact the reporter on this story:
Gaspard Sebag in Brussels at +32-2-285-4317 or
gsebag@bloomberg.net
To contact the editors responsible for this story:
Anthony Aarons at +44-20-3525-2227 or
aaarons@bloomberg.net
Peter Chapman, Kim McLaughlin
2015-07-24 10:08:45.244 GMT
By Gaspard Sebag
(Bloomberg) -- Nokia Oyj’s bid for Alcatel-Lucent SA won
unconditional approval from European Union merger watchdogs who
predicted growing rivalry with Samsung Electronics Co. in
evolving markets for mobile-phone technology.
The transaction to create the biggest maker of equipment
that underpins mobile-phone networks won’t prevent tough
competition in Europe from Ericsson AB and Huawei Technologies
Co. across the 28-nation EU, the European Commission said in an
e-mailed statement on Friday. Other global competitors such as
Samsung and ZTE Corp. are on the rise, the regulator said.
“In particular, Samsung is expected to play a more
significant role in the near future in relation to the newest
generation mobile telecommunications equipment -- so-called 4G,
currently being deployed, and 5G,” the commission said.
Nokia’s biggest acquisition would result in a supplier that
surpasses Ericsson and Huawei in wireless-infrastructure
revenue. Nokia Chief Executive Officer Rajeev Suri will run the
enlarged company, which will bolster its position in China, a
market of 1.3 billion mobile subscribers, and take on contracts
with the two biggest U.S. carriers -- Verizon Communications
Inc. and AT&T Inc.
For Related News and Information:
Nokia Bets $16.6 Billion in Alcatel Deal Creating Network Leader
Top Stories:TOP<GO>
--With assistance from Adam Ewing in Stockholm.
To contact the reporter on this story:
Gaspard Sebag in Brussels at +32-2-285-4317 or
gsebag@bloomberg.net
To contact the editors responsible for this story:
Anthony Aarons at +44-20-3525-2227 or
aaarons@bloomberg.net
Peter Chapman, Kim McLaughlin