Espoo, Finland - The French stock market authority (Autorité des marchés financiers, "AMF") announced today the continuation of the timetable of Nokia's public buy-out offer (the "Public Buy-Out Offer") followed by a squeeze-out (the "Squeeze-Out", together with the Public Buy-Out offer, the "Offer") for all remaining securities of Alcatel-Lucent.
Accordingly, the Public Buy-Out Offer period will end on October 31, 2016 and the Squeeze-Out will be implemented on November 2, 2016, in accordance with the General Regulation of the AMF.
The legal challenge filed before the Paris Court of Appeal on September 30, 2016 against the AMF's clearance decision regarding the Offer dated September 20, 2016 is still pending and the Court is expected to issue a decision during the first quarter of 2017. Nokia believes that the Offer complies with all applicable laws and regulations and that the legal challenge is without merit.
In connection with the continuation of the timetable, as a precautionary measure until the decision of the Paris Court of Appeal, Nokia has committed in particular to deposit into blocked accounts (i) a sum equal to the difference between the price of the Offer and the price requested by the claimants in the legal challenge, multiplied by the total number of Alcatel-Lucent securities that were targeted by the Public Buy-Out Offer, and (ii) the securities which have been and will be acquired as part of the Offer. Nokia also committed to maintain the integrity of the entity Alcatel Lucent S.A. In the event that the AMF's clearance decision would be nullified or amended by the Paris Court of Appeal, Nokia undertook in particular to (i) return the Alcatel Lucent securities acquired as part of the Offer to the former holders of securities who would make such a request, (ii) file a modified public buy-out offer to be followed by a squeeze-out which would comply with applicable French laws and regulations and the decision of the Paris Court of Appeal, and (iii) pay the difference between the initial offer price and the modified price, as the case may be, to all holders of securities acquired by Nokia in the context of the Offer.
Documentation relating to the Offer, which includes Nokia and Alcatel-Lucent's joint offer document (note d'information conjointe) and Nokia's and Alcatel-Lucent's respective "other information" documents, is available on the AMF website (www.amf-france.org), on Nokia's website (http://company.nokia.com/en/investors/financial-reports/filings-related-to-the-alcatel-lucent-transaction), and on Alcatel-Lucent's website (www5.alcatel-lucent.com).