Nokia confirms speculation regarding tie-up with Alcatel

Finnish handset maker Nokia has confirmed it is in advanced talks to acquire all of Alcatel Lucent.

An earlier report from Bloomberg had indicated Nokia was in advanced discussions to purchase Alcatel Lucent's wireless assets, although a full takeover had also been discussed, according to people familiar with the matter.

According to analysts at Canaccord Genuity a successful conclusion of the talks would hinge on whether an agreement can be reached on the valuation of Alcatel Lucent's assets.

Both companies had held talks before without being able to reach an agreement, the broker's analysts pointed out.