Nokia's $2.3 bln acquisition of Infinera likely to get EU approval - Reuters
Investing.com -- Nokia (HE: NOKIA )'s $2.3 billion acquisition of U.S. optical semiconductors and networking equipment maker Infinera (NASDAQ: INFN ) is expected to be approved by European Union antitrust regulators without any conditions, as reported by Reuters. citing sources familiar with the matter. The news came to light on Friday.
Nokia, a Finnish multinational telecommunications, information technology, and consumer electronics company, announced its intention to acquire Infinera in June last year. The acquisition is set to position Nokia as the second largest vendor in the optical networking market, commanding a 20% share.
The market leader is currently Huawei, which has benefited from a lack of significant competition from Western companies in China. The acquisition of Infinera, a prominent player in producing optical semiconductors and networking equipment, would bolster Nokia's presence in this market.
The deal is still subject to approval by EU regulators, but sources suggest it is likely to be cleared without any conditions. This development marks a significant step forward in Nokia's expansion plans within the optical networking market.
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