Network equipment maker Nokia has bought French telecommunications equipment company Alcatel-Lucent for €15.6 billion or $16.58 billion in an all share deal. Through a public exchange offer in France and the US, the Finnish company will make an offer for all of the equity securities issued by Alcatel-Lucent on the basis of 0.55 of a new Nokia share for every Alcatel-Lucent share. The deal is expected to close in the first half of 2016. Alcatel-Lucent shareholders would own 33.5% of the fully diluted share capital of the combined company, and Nokia shareholders would own 66.5%, assuming full acceptance of the public exchange offer. The combined company will be called Nokia Corporation, with headquarters in Finland and a strong presence in France. Risto Siilasmaa is planned to serve as Chairman, and Rajeev Suri as Chief Executive Officer. The newly combined company will be looking at investing in the next generation of 5G network equipment and enabling Internet of Things. With @Alcatel_Lucent, we're working toward creating better connections for everyone. Here's how: http://t.co/Giwcn21VaX — Nokia (@nokia) April 15, 2015 Reuters reports that combined, the company will have about 114,000 employees and combined sales of around 26 billion euros. The report added that Alcatel-Lucent has some 6,000 employees in France and maintaining jobs was a key demand of the French government for its backing of the deal. The deal also included protecting two research and development sites at Villarceaux and Lannion. "With more than 40 000 R&D employees and a spend of €4.7 billion…
