From left, Executive Vice President and Group CFO Timo Ihamuotila, President & CEO Rajeev Suri, Chairman Risto Siilasmaa and Nokia's Vice Chairman Jouko Karvinen at the Extraordinary General Meeting (EGM) of Nokia Corporation on Wednesday. Photo – Lehtikuva.
The shareholders in Nokia corporation during an Extraordinary General Meeting of the company on Wednesday approved the proposed acquisition of Franco-American company Alcatel-Lucent.
In a press release, Nokia said its shareholders overwhelmingly expressed their support by adopting all the resolutions set forth during the meeting.
According to Nokia, the planned transaction is expected to be finalised in the first quarter of 2016.
“We are delighted that the vast majority of Nokia's shareholders recognize the long-term value crea-tion opportunity that this proposed combination represents,” said Rajeev Suri, President and CEO of Nokia Corporation in the release.
Suri also encouraged the Alcatel-Lucent shareholders and convertible bondholders to help realize this potential by tendering their securities into the public exchange offer.
According to Risto Siilasmaa, the Chairman of the Nokia Board of Directors, the endorsement by the shareholders supports the company's strongly-held belief that the combined company will be better positioned to compete as a world leader in network technologies over long-term.
