Telecom network vendor Nokia has received approval from the European Commission for acquiring Alcatel-Lucent for $16.6 billion.
Nokia notified the proposed transaction to the European Commission on June 19, 2015 and was cleared today without conditions following a Phase 1 review.
Earlier, Nokia received antitrust clearances in Brazil and Serbia. Nokia also announced the expiration of the antitrust review period in the United States.
In addition, Nokia has received further antitrust clearances from Albania, Canada, Colombia and Russia. Both Nokia and Alcatel-Lucent will continue to cooperate with the remaining authorities to close their reviews as quickly as possible.
The transaction remains subject to approval by Nokia shareholders, Nokia holding over 50 percent of the share capital of Alcatel-Lucent on a fully diluted basis upon completion of the public exchange offer.
The deal between Alcatel-Lucent and Nokia is expected to close in the first half of 2016.