EU Commission gives deal the green light

Infinera says it expects the deal to complete at the end of the month

Replaces Pekka Lundmark, who leaves after four years at the helm

Stronger demand in North America drives strong end to 2024

Hammarén has been with Nokia since 2007

The vendor will retain a 20 percent stake until targeted exit

CEO remains upbeat despite tough year for vendor

The cuts are part of a wider layoff announced last year

A search for a new CEO is reportedly underway

Deal would have reportedly valued the mobile network at $10bn

Comes less than a year after Nokia sued Amazon

Attributes the loss to surge of sales in India the year before

Deal expected to close in 2025

Will use the money to pay its dues

Around 500 employees are expected to transfer to Lumine

Finnish vendor to wield the axe in move to cut costs

European operator acquires former Nokia HQ site

Joins from Cognizant Technology Solutions

Finnish company hasn't said where the cuts will fall