Nokia launched a public buy-out offer for all remaining Alcatel-Lucent securities it does not already own, with squeeze out of the remaining stake expected on 6 October.

The Finnish vendor secured clearance to go ahead with a public buy-out offer in cash by French stock market authority AMF on 20 September, and said in a statement it has now begun the process.

The two companies actually kicked off combined operations back in January of this year, after Nokia’s public offer was successful. It took control of 79.32 per cent of the share capital and at least 78.97 per cent of the voting rights in Alcatel-Lucent.

Nokia then reopened its public offer but fell short of the 95 per cent support needed to squeeze out the remaining stake by a February deadline.

In June, Nokia revealed it had agreed to acquire 24.4 million Alcatel-Lucent shares, 9.6 million Alcatel-Lucent bonds convertible into new or exchangeable for existing Alcatel-Lucent shares due on 30 January 2019 and 2.29 million Alcatel-Lucent bonds convertible into new or exchangeable for existing Alcatel-Lucent shares due 30 January.

Nokia will pay €3.50 per Alcatel-Lucent share, €4.51 per 2019 convertible bond and €4.50 per 2020 convertible bond, the same valuation it had when it first agreed to squeeze out the stake.

The public buyout offer will be open for 10 trading days, said the company, from 22 September to 5 October, and the squeeze out will be implemented the following day.

Earlier this month at CTIA Super Mobility in Las Vegas Nokia executives told Mobile World Live that the company already owns 95 per cent of Alcatel-Lucent and will control 100 per cent by the end of October.