- Nokia (NYSE:NOK) will create a joint venture with China Huaxin that may clear the biggest remaining jurisdiction and win it China's approval in a €15.6B takeover of Alcatel-Lucent (ALU).
- Nokia will hold 50% plus one share of the Nokia Shanghai Bell JV. The deal is similar to a longtime JV between Alcatel-Lucent and state-owned Huaxin, which presages a green light for the takeover.
- The EU had given approval to the deal late last month, and the U.S. Justice Dept. OK'd it in June.