Nokia will pay $16.6 billion for Alcatel-Lucent

Nokia Corp. (NYSE: NOK) will buy Alcatel-Lucent (NYSE: ALU) in an all stock deal valued at approximately $16.6 billion but Alcatel-Lucent shareholders were disappointed that no cash would be part of the transaction. Shares of Nokia slipped 26 cents to $7.70 while Alcatel-Lucent stock fell 91 cents to $4.02.