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Nokia in advanced talks to buy all of Franco-US rival Alcatel-Lucent

Finland's Nokia announced on Tuesday that it was in advanced talks to purchase all of its Franco-American rival Alcatel-Lucent.

“Nokia and Alcatel-Lucent confirm that they are in advanced discussions with respect to a potential full merger, which would take the form of a public exchange offer by Nokia for Alcatel-Lucent,” the company said in a statement.

“There can be no certainty at this stage that these discussions will result in any agreement or transaction,” it added. The announcement came a day after reports that Nokia was in talks to acquire Alcatel-Lucent's wireless infrastructure. Rumours have swirled since December of a possible deal between the two firms, with France's Les Echos reporting on Monday that executives had been in negotiations since January.

The purchase would represent a significant boost in market share for Nokia. The Alcatel-Lucent wireless infrastructure unit alone accounted for 36 percent of total sales for the Paris-based company in 2014, according to Bloomberg, generating 4.7 billion euros ($5 billion) in revenue.

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