Nokia-Alcatel deal
BEIJING/HELSINKI: China’s Ministry of Commerce on Monday approved Nokia’s proposed acquisition of French rival Alcatel-Lucent with conditions, almost completing the 15.6 billion euro ($17.6 billion) deal’s antitrust process. The ministry said the Finnish telecom network equipment maker had agreed to meet certain terms by December 10, mainly relating to the use of wireless telecommunication standards and patent licensing. The terms were imposed in keeping with China’s anti-monopoly regulation to ensure market competition isn’t harmed by the takeover, it added in a statement on its website. As part of its talks with China, Nokia in August agreed to create a joint venture, Nokia Shanghai Bell, with China’s state-owned Huaxin.