EU clears Nokia $2.3 bn takeover of US firm Infinera

AFP | Brussels

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The EU’s powerful competition regulator on Wednesday gave the green light for a $2.3 billion takeover of US optical semiconductors company Infinera by Finland’s Nokia. The telecoms firm announced the acquisition in June last year.

“The European Commission has approved unconditionally... the proposed acquisition,” it said, after concluding “the transaction would raise no competition concerns”.

Both companies supply optical transport equipment used to transmit data through optical fibre cables and the European Union said the merger would allow the firms to compete with larger competitors in the market.