Beijing, China –China Huaxin Post & Telecommunication Economy Development Center (China Huaxin) and Nokia 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.

Nokia Shanghai Bell continues to be one of the state-owned enterprises under the supervision of the State-owned Assets Supervision and Administration Commission. As Nokia's exclusive platform in China, Nokia Shanghai Bell focuses on developing innovative technologies in areas of IP routing, optical, fixed and next-generation 5G networks and will continue to expand business overseas. The company will continue to engage in major R&D programs in China, offering expertise to support the strategic initiatives of the government.

Nokia Shanghai Bell will build on the legacy of Alcatel Lucent Shanghai Bell and leverage its brand value as well as its entrepreneurial spirit. Through the strong collaborations with Nokia in China and around the world, the new joint venture will be well- positioned to capitalize on new opportunities and reach new heights as it aspires to become a prominent leader in the China market.

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