Nokia- Alcatel compliance review ongoing, risks limited
HELSINKI – Nokia’s investigation as they co-operate with authorities on matters of compliance issues with its Alcatel-Lucent business is ongoing.
Nokia flagged the investigation in its 2018 annual report and this affected the company’s shares in March 2019.
Details of the investigation have not been unveiled but the risks were said to be limited.
“We have seen no evidence that would suggest that criminal penalties would apply in this case, and we believe it is highly likely that any penalties that might apply would be limited and immaterial.”
A huge number of large deals have been seen by Nokia of late. In 2013, Nokia bought Siemens out of their mobile networks’ joint venture and in 2016, Nokia bought Alcatel-Lucent.
The integration of acquisition targets is tiresome. The difficulties that these deals bring include cost-cutting in an R&D intensive business, poaching of contracts by rivals and boardroom power struggles.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.