Just In
- 5 hrs ago OnePlus 13 Early Leak Hints at a Revamped Camera Island, and Fast Charging to Remain at 100W
- 7 hrs ago Realme NARZO 70x 5G With 45W Charging Confirmed to Launch on April 24 Under Rs 12,000
- 7 hrs ago Samsung Neo QLED, OLED TVs Launched in India with AI-Driven Features
- 8 hrs ago Google Wallet is Coming to India Soon: Listing Appears on the Play Store
Don't Miss
- Sports Lowest Totals of all 10 IPL Teams: Gujarat Titans post their lowest score against Delhi Capitals in IPL 2024
- News Jammu And Kashmir: Terrorists Kill Migrant Labourer From Bihar In Anantnag
- Finance How To Pick Up The Right Index Funds For Your Portfolio?
- Movies Siddhant Chaturvedi And Alia Bhatt Team Up For Thrilling New Project Post Gully Boy
- Education SCCL Recruitment 2024; Application process, Selection criteria and more
- Automobiles Mahindra 3XO SUV Latest Teaser Reveals Connected Car Tech: All Details Here
- Lifestyle World's First Miss AI Pageant Announced, Know All About The Rise Of AI Beauty
- Travel From Coconut Breaking on Head to Men Dressing as Women: 12 Unique Indian Rituals Explored
CCI clears Nokia's proposed purchase of Alcatel-Lucent
Competition Commission has approved Finnish telecom gear maker Nokia's proposed acquisition of French major Alcatel-Lucent in a deal worth over USD 16 billion.
Giving its green signal, the fair trade regulator said the transaction is not likely to have an adverse impact on competition in India. In April, Nokia had announced the all-stock deal worth 15.6 billion euros (USD 16.6 billion) to acquire Alcatel-Lucent.
SEE ALSO: Here Are Top 10 Mid-range Smartphone Rivals to Asus Zenfone 2 Deluxe in India!
While Alcatel operates in both the fixed and mobile infrastructure segments, Nokia is only into the mobile infrastructure segment. Consequently, overlaps are restricted to the mobile infrastructure segment at the broadest level, the Competition Commission of India (CCI) said.
With regard to the two companies' operations in India, the CCI said they are largely complementary in nature. "While Nokia is present in the mobile infrastructure segment, Alcatel's India operations mainly relate to fixed line services, with some operations in the mobile infrastructure segment.
There are overlaps within the mobile infrastructure segment. "However, in view of the fact that the proposed combination is unlikely to cause an appreciable adverse effect on competition in any of the above-mentioned segments," the regulator said in its order dated August 29.
SEE ALSO: How To Get Extra Free Storage Space On Dropbox: 8 Simple Steps
After examining the bidding information provided by the two companies for 2012-2015 period, CCI said there were no instances in which these entities were the only bidders. There were several instances of post bid negotiations with the successful bidder, which is also indicative of buyer power, it added. Further, Nokia and Alcatel do not appear to be close competitors in India considering the number of overlapping tenders participated by them, CCI said.
Source PTI
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
11,999
-
3,999
-
2,500
-
3,599
-
8,893
-
13,999
-
32,999
-
9,990
-
25,377
-
23,490