Advertisement
U.S. markets open in 7 hours 27 minutes
  • S&P Futures

    5,212.25
    -2.50 (-0.05%)
     
  • Dow Futures

    39,229.00
    +6.00 (+0.02%)
     
  • Nasdaq Futures

    18,205.00
    -26.50 (-0.15%)
     
  • Russell 2000 Futures

    2,050.20
    +0.40 (+0.02%)
     
  • Crude Oil

    82.49
    -0.23 (-0.28%)
     
  • Gold

    2,161.00
    -3.30 (-0.15%)
     
  • Silver

    25.14
    -0.12 (-0.49%)
     
  • EUR/USD

    1.0867
    -0.0009 (-0.09%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • Vix

    14.33
    -0.08 (-0.56%)
     
  • GBP/USD

    1.2708
    -0.0021 (-0.17%)
     
  • USD/JPY

    150.3790
    +1.2810 (+0.86%)
     
  • Bitcoin USD

    65,169.14
    -3,485.48 (-5.08%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,722.55
    -4.87 (-0.06%)
     
  • Nikkei 225

    39,858.49
    +118.09 (+0.30%)
     

Nokia's bosses to dominate leadership team after Alcatel deal

The Nokia headquarters is seen in Espoo, Finland, July 28, 2015. REUTERS/Mikko Stig/Lethikuva

HELSINKI (Reuters) - Finnish network equipment maker Nokia said on Wednesday its executives would dominate the new leadership team once it completes its proposed acquisition of Alcatel-Lucent.

Chief Financial Officer Timo Ihamuotila will stay in his job and altogether 10 out of a total 13 members in the planned group leadership team come from Nokia.

Nokia said it planned to report its results as two divisions, Networks business and Nokia Technologies, which includes patents and new technologies.

The networks division would be split into four business groups: Mobile Networks, Fixed Networks, Applications & Analytics and IP/Optical Networks, but it would have a common sales organization.

Alcatel had previously planned to sell a majority stake in its undersea cables business, but on Tuesday it decided to keep it, and Nokia expects to operate it as a separate entity.

The 15.6 billion euro ($17.55 billion) all-share acquisition of Alcatel-Lucent is expected to be closed in the first half of next year.

(Reporting by Jussi Rosendahl. Editing by Jane Merriman)

Advertisement