Nokia Confirms It Is in Advanced Talks to Buy Alcatel-Lucent

Nokia confirmed on Tuesday that it is in “advanced discussions” to acquire rival network equipment maker Alcatel-Lucent.

The move follows a Bloomberg News report of the talks.

“In relation to recent media speculation, Nokia and Alcatel-Lucent confirm that they are 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 in a press release posted to its website. “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.”

With the sale of its handset business to Microsoft, Nokia has three remaining businesses: Its network gear unit, its Here maps unit and an advanced technology business, with the last of those also owning Nokia’s substantial patent holdings. The company has reportedly been seeking bids for the maps unit.

Nokia shares slumped on the news, trading down more than 6 percent, to 7.28 euros, while Alcatel-Lucent shares rose more than 12 percent.

This article originally appeared on Recode.net.

Will you support Vox’s explanatory journalism?

Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple reasons that we can't rely only on ads and subscriptions to keep the lights on.

First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.

Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. We can’t do that if we have a paywall.

That’s why we also turn to you, our readers, to help us keep Vox free. If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today?

One-Time Monthly Annual

$5/month

$10/month

$25/month

$50/month

Other

$

Yes, I'll give $5/month

Yes, I'll give $5/month

We accept credit card, Apple Pay, and Google Pay. You can also contribute via