April 14, 2015 Last Updated 7:53 am

Nokia confirms it is in talks to buy Alcatel-Lucent

The Finnish telecom Nokia confirmed today that it is in talks to buy French company Alcatel-Lucent.

“In relation to recent media speculation Nokia and Alcatel-Lucent confirm that they are in advanced discussions with respect to a potential full combination, which would take the form of a public exchange offer by Nokia for Alcatel-Lucent,” Nokia said in a statement. “There can be no certainty at this stage that these discussions will result in any agreement or transaction.”

As is usually the case in these kinds of mergers, the company being potentially bought saw its stock soar, while Nokia’s stock price dipped on the news.

The combined companies, should a deal be struck, would have revenues around $27 billion. Nokia last year sold off its cellphone division to Microsoft.

Update: One day later Nokia announced that they had acquired Alcatel-Lucent for $16.6 billion

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