Nokia announced Wednesday it failed to gain control of 100 percent of Alcatel-Lucent shares despite reopening its public exchange offer.
Though Nokia took over control of Alcatel-Lucent in January after winning nearly 80 percent of the French company’s shares, the company remained without total control this week with only 91.25 percent.
The shortfall left Nokia below the 95 percent benchmark that would have allowed it to delist all remaining shares from the Paris stock exchange.
Nokia is now faced with the prospect of having to buy the remaining Alcatel-Lucent shares on the open market, which will likely demand a higher price than the 0.55 Nokia shares it offered for each Alcatel-Lucent share during the acquisition.
Following its official acquisition of Alcatel-Lucent in January, Nokia said it would “move quickly” to integrate the companies. The companies began operating as one on Jan. 14.
The new company boasts a combined 2014 revenue of approximately $27.6 billion, putting it just ahead of Ericsson’s 2014 revenues of approximately $26.7 billion.