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By | Kat Hall 14th April 2015 09:31

Nokia: Yes, we're chatting up Alcatel-Lucent

Deal would create €26bn firm to rival Ericsson

Nokia has confirmed it is in talks to snap up Alcatel-Lucent.

In a statement the former phone maker said it is in "advanced discussions with respect to a potential full combination, which would take the form of a public exchange offer by Nokia for Alcatel-Lucent."

Nokia said there can be no certainty at this stage that these discussions "will result in any agreement or transaction."

A further announcement will be made when appropriate.

Alca-Lu made posted sales of €13.2bn (£9.5bn) for its full-year 2014. Nokia’s full year 2014 net sales of €12.7bn (£9.2bn).

However, Alca-Lu recorded a net loss of €83m (£60m). Nokia’s operating profit was €170m (£123m) in 2014.

In 2013 Nokia flogged its once world-leading phone biz to Microsoft for $7.1bn (£4.85bn at 2015 exchange rates).

In its year-ahead statement for 2015 Nokia said: "We will not shy away from investing where we need to invest."

It added: “We see 2015 as a year of execution. We are already moving fast, with HERE sharpening its strategic focus, Nokia Technologies accelerating its licensing and innovation activities, and Nokia Networks increasing its momentum in growth areas including virtualization and telco cloud.” ®

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