NEW YORK (TheStreet) -- Alcatel-Lucent (ALU) dipped Monday after its board of directors approved its sale to Nokia (NOK) for 15.6 billion euros. Vodafone (VOD) edged slightly higher after reports it will exchange assets with Liberty Global (LBTYA).
Alcatel-Lucent dipped 1% to close at $3.79.
The telecommunications equipment maker fell after its board of directors approved its sale to Nokia for 15.6 billion euros. The reaction from investors was not as severe as when the merger was first announced in April, with Alcatel-Lucent shares plunging more than 16% as investors panned the deal.
According to a report in Global Telecoms Business, the company underwent a consultation with its French Group Committee to review the merger, a requirement by the French government. The deal is expected to close in the first half of 2016.
Vodafone inched up 0.46% to end the session at $37.22.
The British-based telecommunications carrier edged up after confirming Friday it was in early-stage talks to exchange assets with Liberty Global. According to a report in the New York Times, the two companies will exchange some of their assets, but it will not be a full-on buyout of all assets.
Vodafone faces challenges as an increasing number of wireless carriers hook up with cable companies across the industry. Both Vodafone and Liberty Global have a large presence in Europe, so the deal may help Vodafone to expand its cable and broadband offerings with Liberty's assets.