Nokia Wins US Antitrust Approval for Alcatel-Lucent Deal

Nokia Oyj won US antitrust approval for its 15.6 billion-euro ($17.6 billion) takeover of French telecommunications-equipment rival Alcatel-Lucent SA. The Justice Department granted early approval to the deal, moving the two companies one step closer to completing the transaction, they said. “The parties continue to make good progress with the regulatory approval processes in the remaining relevant jurisdictions,” they said. “Both companies will continue to cooperate with the remaining authorities to close their reviews as quickly as possible.”

Nokia and Alcatel-Lucent need permission from more than 20 competition regulators around the world to proceed with the takeover, including in China and the European Union, according to Nokia. Besides the Justice Department, they said they have obtained clearances in Brazil and Serbia. In the US, Espoo, Finland-based Nokia is also seeking approval from a national security panel known as the Committee on Foreign Investment in the US. CFIUS, which is led by the Treasury Department, reviews foreign acquisitions of US businesses to protect national security. CFIUS cleared Alcatel’s acquisition of Lucent Technologies in 2006 after negotiating a national security agreement with the French company.