LONDON — The Finnish telecommunications company Nokia said on Wednesday that it had agreed to an all-stock deal to acquire Alcatel-Lucent that valued its French rival at about $16.6 billion.

The combined company is expected to become the world’s second-largest telecom equipment manufacturer, behind Ericsson of Sweden, with global revenues totaling $27 billion and operations spread across Asia, Europe and North America.

via Nokia Agrees to $16.6 Billion Takeover of Alcatel-Lucent – NYTimes.com.