ALU back to earth Nokia Oyj agreed to buy Alcatel-Lucent SA in an all-stock transaction valued at 15.6 billion euros ($16.6 billion) to create the biggest maker of equipment that underpins mobile-phone networks.
The combined company will be called Nokia and Siilasmaa will continue in his position. Alcatel CEO Michel Combes is leaving the company and will remain a shareholder. Alcatel shareholders will own 33.5 percent of the company and Nokia investors the remainder.
Alcatel investors will receive 0.55 Nokia share for each stock they own, the companies said Wednesday. The deal values Alcatel at 4.12 euros per share, 8 percent less than the most recent closing price. The stock fell 11 percent to 3.98 euros at 1:52 p.m. in Paris after soaring 16 percent on Tuesday. Nokia rose 1.2 percent to 7.58 euros in Helsinki.
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