The Ministry of Commerce in China said Monday it has approved telecom equipment maker Nokia's proposed takeover of France's Alcatel-Lucent providing that the Finnish firm can meet certain terms by December 10.
Nokia has agreed to meet those conditions, which mainly relate to the use of wireless telecommunication standards and patent licensing, the ministry said.
China is the last major jurisdiction still to approve Nokia's 15.6 billion euro ($17.6 billion) takeover of Alcatel.
The terms were imposed in keeping with China's anti-monopoly regulation to ensure sound market competition is not harmed by the takeover, the Ministry of Commerce said in a statement on its website.
