On 26 February 2025, the European Commission unconditionally approved Nokia’s acquisition of Infinera in Phase I.

Both companies supply optical transport equipment used to transmit data through optical fibre cables, serving telecoms operators and other network providers across the world. Nokia is a Finnish multinational company active in the design and manufacture of networking and communications equipment, whilst Infinera is a US-based supplier of optical networking products and solutions.

The Commission’s Phase I review assessed the horizontal overlaps between the parties’ activities in the supply of optical transport equipment and concluded that the transaction would not raise competition concerns in the EEA.

Oxera assisted both Parties in the transaction, providing analysis of the competitive effects of the merger.

Oxera’s team, led by Giulio Federico, assisted Nokia on its merger control filings before the Commission and in multiple other jurisdictions. The team included Johanna Posch, Bernhard Enzi, Max Schlosser, Oriane Limouzin, Louis Pech, Szilvia Flanek, Andreas Selvig Ødegård, Virginia González García, Christopher Correa, and Luka Parisi.