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© aydindurdu dreamstime.com Electronics Production | April 30, 2015

Trouble in Nokia-Alcatel land?

Alcatel-Lucent's second-largest shareholder is not impressed with the EUR 15.6 billion proposed by Nokia.
Investment group Odey Asset Management believes that Nokia has undervalued the French company, according to a report in the Financial Times.

“The deal has been dressed up as a takeover of Alcatel by Nokia,” a fund manager stated In a quarterly update to its investors. However, the premium offered suggests – he continues – a merger instead. “We therefore find the terms of the deal unacceptable,” the report continues.

To be more precise, Odey will not tender its shares, a filing to French financial regulators indicates.

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