Nokia reports compliance issues at Alcatel-Lucent business

March 22, 2019

HELSINKI (Reuters) – Finnish network equipment maker Nokia said on Friday it was looking into transactions at its former French rival Alcatel-Lucent which it acquired in 2016, after reporting possible compliance issues at the unit to U.S. authorities.

“To ensure complete compliance we are now scrutinizing certain transactions in the former Alcatel-Lucent business and although this investigation is in a relatively early stage, out of an abundance of caution and in the spirit of transparency, Nokia has contacted the relevant regulatory authorities regarding this review,” Nokia said in an emailed statement to Reuters.

Shares were down 7.8 percent by 1115 GMT, on track for worst day since October 2017 and bottom of the pan European stoxx 600 index.

(Reporting by Anne Kauranen, editing by Louise Heavens)

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