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Name | Symbol | Market | Type |
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Ericsson | NASDAQ:ERIC | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 0.96% | 5.26 | 5.14 | 5.28 | 5.28 | 5.234 | 5.26 | 10,722,461 | 01:00:00 |
Finnish telecommunications-equipment maker Nokia Corp. is in advanced talks to buy French rival Alcatel-Lucent SA, the companies said Tuesday, a deal that would create a new global networking behemoth to rival Sweden's Ericsson and China's Huawei Technologies.
The deal currently under consideration is a "full combination" that would entail Nokia making a public offer for Alcatel-Lucent stock, the companies said. The deal could still fall apart, they added.
It isn't clear if the parties have agreed on a valuation. Alcatel-Lucent's market capitalization stands at roughly EUR11 billion ($11.63 billion), while Nokia's market capitalization is about EUR28 billion.
Alcatel-Lucent's shares bounded on the announcement, up 13% to EUR4.38 in morning trading in Paris.
A Nokia-Alcatel merger deal would cap years of speculation about a possible tie-up between the two firms, and reshape the telecommunications-equipment business by creating a company with a combined 2014 revenue of EUR25.9 billion and more than 100,000 employees in businesses spanning wireless communications and Internet routing.
Market leader Ericsson reported revenue of EUR25.1 billion in 2014, while Huawei's telephone-carrier equipment business had revenue of about EUR23.6 billion, at average exchange rates for the year.
Cisco, which competes with Alcatel in Internet routing, amid its broader enterprise and consumer businesses, had revenue of $47.1 billion for the year ending July 26.
Write to Sam Schechner at sam.schechner@wsj.com
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