Nokia downplays shareholder opposition to Alcatel-Lucent deal

The Nokia company logo is pictured at its headquarters in Espoo January 29, 2015.

/Roni Rekomaa/Lehtikuva

- Nokia Chief Executive Rajeev Suri defended the terms of its pending acquisition of smaller telecom gear maker Alcatel-Lucent after a shareholder criticized them as unacceptable. Odey Asset Management, Alcatel-Lucent's second-largest shareholder with 5 percent, said in a letter to investors that it would not tender its shares in the Nokia takeover because the 15.6 billion euro price in the all-share deal was too low, according to the Financial Times newspaper."We've met many investors in the last couple weeks, and there's very strong, good feedback," Suri said on a call after first-quarter results.He declined to say whether the terms of the deal would be altered, adding only that both boards had already approved them."Fundamentally this is a good deal with attractive upside in long-term and upfront."Alcatel-Lucent shareholders do not need to vote to ratify the deal since it will go through as long as 51 percent of shares are tendered. (Reporting by Jussi Rosendahl; Editing by Leila Abboud)