China is the latest regulatory hurdle that Nokia’s acquisition of Alcatel-Lucent has overcome.
The Chinese Ministry of Commerce (MOFCOM) has given antitrust clearance for the deal, which sees Nokia create a joint venture with China Huaxin to combine the Finland-based vendor’s telecommunications infrastructure businesses in China with Alcatel-Lucent Shanghai Bell.
Nokia will hold 50 percent plus one share in the new JV, which will trade as Nokia Shanghai Bell.
The news from China completes the material antitrust review process required for the transaction as a whole.
However, Nokia and A-L continue to work with the French government to obtain formal approval from the Ministry of Economy.
Nokia will then proceed with the filing of a public exchange offer for A-L securities.
Rajeev Suri, President and CEO of Nokia Corporation, said: "We are pleased to have received clearance from MOFCOM for our proposed acquisition of Alcatel-Lucent.
“Completion of the material antitrust reviews is another significant milestone in the transaction, as we ready ourselves for operating as a combined company.
“Through Nokia Shanghai Bell, we look forward to maintaining our deep commitment to China and playing a key role in the country's shift towards an innovation-driven economy."