Nokia to buy Alcatel-Lucent for €12bn

Nokia is to buy Alcatel-Lucent for over €12bn in an apparent bid to take on Ericsson to become the world's leading telecoms equipment firm.

The deal will create a combined company with more than 110,000 staff and give it a 35% share of the mobile equipment market.

The Finnish firm has managed to turn around its fortunes since the sale of its handset business to Microsoft.

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