News: The transaction is expected to close in the first half of 2016.
Nokia has launched a public exchange offer for its proposed acquisition of Alcatel-Lucent.
The public exchange offer includes two separate offers, the French offer and the US offer, which feature similar financial terms.
Nokia president and CEO Rajeev Suri said: "With the launch of this public exchange offer, we are entering the final phase of our proposed acquisition of Alcatel-Lucent in a position of strength and are on track to be ready to operate as one company.
"A successful public exchange offer would mark the completion of Nokia’s transformation to create a new leader in next generation technology and services for an IP connected world."
The acquisition is expected to overshadow Ericsson AB and Huawei Technologies in wireless-infrastructure revenue.
Suri told Reuters in an interview that the agreement matches with a new industry investment cycle set to start in 2016 to develop the next generation of 5G networks, which are anticipated to go mainstream around 2020.
Alcatel-Lucent invests about €4.7bn on research and development, with Nokia spending less than half of the amount.
Suri said: "We have more scale to invest in 5G than we would had alone."