Alcatel-Lucent completes Nortel UMTS buy

Alcatel-Lucent said Tuesday that its acquisition of Nortel Networks Corp.’s UMTS radio access business, is now complete, after it won regulatory approval over the holiday period.

Nortel received a cash payment of £163m ($320m) minus “some deductions”, the company said in a statement.

The Nortel purchase is the largest the newly formed Alcatel-Lucent has made since Alcatel bought its American rival Lucent in a deal worth $11.6bn last year.