Nokia and China Huaxin close their transaction regarding the creation of Nokia Shanghai Bell
Beijing, China - Nokia and China Huaxin Post & Telecommunication Economy Development Center (China Huaxin) have closed their transaction for the creation of the Nokia Shanghai Bell joint venture that brings together Alcatel-Lucent Shanghai Bell Co. Ltd. (ASB) and Nokia's China business. The definitive agreements for integration were signed and announced on May 18, 2017.
The closing marks the official start of Nokia Shanghai Bell operations, although ASB and Nokia's China business have effectively operated as one entity since January 2016 when an interim operational agreement was signed.
Source: Nokia Press Release