Nokia (NOK) Reports Q3 EPS of EUR0.08; Announces EUR 7B Capital Structure Optimization Program

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Go back to Nokia (NOK) Reports Q3 EPS of EUR0.08; Announces EUR 7B Capital Structure Optimization Program

Nokia announces EUR 7 billion program to optimize capital structure and accelerates EUR 900 million synergy target, ahead of planned public exchange offer for Alcatel-Lucent securities

October 29, 2015 2:23 AM EDT

ESPOO, Finland, Oct. 29, 2015 (GLOBE NEWSWIRE) -- Nokia today announced a planned EUR 7 billion program to optimize Nokia's capital structure and return excess capital to shareholders. This program would consist of approximately EUR 4 billion in shareholder distributions and approximately EUR 3 billion of de-leveraging. In addition, Nokia today accelerated its annual operating cost synergy target related to the Alcatel-Lucent transaction. Nokia now targets to achieve approximately EUR 900 million of operating cost synergies in full year 2018, compared to its earlier target to achieve approximately EUR 900 million of operating cost synergies in full year 2019.

"Nokia is approaching the opening of its public... More