Nokia and China Huaxin close their transaction regarding the creation of Nokia Shanghai Bell
Jul 3, 2017
Stock Exchange Release
July 3, 2017 at 09:00 (CET +1)
Beijing, China - Nokia and China Huaxin Post & Telecommunication Economy Development Center (China Huaxin) have closed their transaction for the creation of the Nokia Shanghai Bell joint venture that brings together Alcatel-Lucent Shanghai Bell Co. Ltd. (ASB) and Nokia's China business. The definitive agreements for integration were signed and announced on May 18, 2017.
The closing marks the official start of Nokia Shanghai Bell operations, although ASB and Nokia's China business have effectively operated as one entity since January 2016 when an interim operational agreement was signed.
About China Huaxin
China Huaxin Post and Telecommunication Economy Development Center is an industrial investment company that seeks long-term commercial growth opportunities in the Information and Communications Technologies (ICT) sector. China Huaxin has extensive global operations and international investment experience. China Huaxin aspires to be a competitive global industry holding group that creates long-term value for its stakeholders and for society as a whole by nurturing and advancing technology innovation in the Information Industry.