Nokia Corporation November 23, 2015 21:45 EEST
Paris, France - Rajeev Suri, President and Chief Executive Officer of Nokia, met today with French President Fran ois Hollande and Minister of Economy Emmanuel Macron to reiterate Nokias strong involvement in the development of the technology and digital ecosystem in France. This meeting follows the recent launch of Nokias public exchange offer for Alcatel-Lucent securities as part of the planned combination of the two companies, and was also attended by Marc Rouanne, currently Executive Vice President, Mobile Broadband, Nokia Networks, who would serve as Chief Innovation & Operating Officer in the combined entity. Together, Nokia and Alcatel-Lucent would be an innovation leader in next generation technology and services for an IP connected world.
Following the meeting with President Hollande, Suri commented: I was honored to be able to reiterate Nokias support for France to President Hollande in our meeting today. The values of France are far stronger than those who pose a threat to the country and I could see that in the resolve and determination of the President. Nokia will not just be a larger part of the technology ecosystem in the country in the future, but a larger presence in France overall. Once the proposed transaction with Alcatel-Lucent closes, we will have thousands of employees in France, many of them engaged in cutting-edge research and development. We are proud that we will inherit the rich history of Alcatel, and proud of the contribution we will bring to France.
President Hollande renewed his support for the proposed combination with Alcatel-Lucent and thanked Nokia for its commitment to sustainably integrate France into the combined companys strategic plans for the future. President Hollande said: The involvement of Nokia in the French digital ecosystem is fully consistent with our strategy to develop new economic opportunies, by mobilizing and leveraging the innovation and research capabilities of France.
Nokia intends to be a prominent contributor to the overall development of Frances technology ecosystem and a driver of innovation across the French economy. The combined company would build on Frances strong competencies in key technology areas, on the existing presence of Alcatel-Lucent in France and on the exceptional technical talent emerging from the French higher education system. It would drive the French telecom innovation ecosystem through key experts localized in France (i.e. Bell Labs France), participation in major initiatives such as P les de comp titivit and active involvement and leadership in the French industrial plan (Industrie du Futur) in continuity of the current efforts within Souverainet T l com.
Additionally, Nokia has committed to creating a EUR 100 million investment fund dedicated primarily to investing in start-ups and innovation in the Internet of Things, Cyber Security and software platform enablers for next generation networks.
The proposed transaction is expected to be completed in the first quarter of 2016, and remains subject to Nokia shareholder approval and Nokia holding over 50% of Alcatel-Lucents fully diluted share capital following completion of the exchange offer.
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By focusing on the human possibilities of technology, Nokia embraces the connected world to help people thrive. Our three businesses are leaders in their fields: Nokia Networks provides broadband infrastructure, software and services; HERE provides mapping, navigation and location intelligence; and Nokia Technologies provides advanced technology development and licensing. www.nokia.com
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Further information on the transaction can be found at: www.newconnectivity.com
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FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that reflect Nokias and Alcatel Lucents current expectations and views of future events and developments. Some of these forward-looking statements can be identified by terms and phrases such as believe, will, would and similar expressions. These forward-looking statements include statements relating to: the opening and expected timeline of the exchange offer; the positioning of the combined company to compete, statements made by Mr. Suri, including with respect to the strategic rationale for the transaction, Nokias transformation and the expected benefits of the proposed transaction. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. These forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These statements are only predictions based upon our current expectations and views of future events and developments. Risks and uncertainties include: the ability of Nokia to integrate Alcatel Lucent into Nokia operations; the success of the exchange offer; the performance of the global economy; and the impact on the combined company (after giving effect to the proposed transaction with Alcatel Lucent) of any of the foregoing risks or forward-looking statements, as well as other risk factors listed from time to time in Nokias and Alcatel Lucents filings with the U.S. Securities and Exchange Commission (SEC).
The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including the Risk Factors section of the Registration Statemen
