Nokia to buy French rival in $15.6B all-share deal

Finland-based communications company Nokia agreed to purchase its smaller French rival, Alcatel-Lucent, in an all-share deal valued at 15.6 billion euros, or $16.6 billion, Reuters reports.

The combined company would have 114,000 employees and sales of around 26 billion euros.

The acquisition would make Nokia the second-largest seller of mobile equipment with a 35 percent global market share. The leader is Sweden's Ericsson with 40 percent.

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