Nokia has officially completed its acquisition of Alcatel-Lucent, after the Finnish kit maker completed its squeeze-out of minority shareholders. Nokia now owns 100 percent of Alcatel-Lucent. The company will now push on with eliminating the costs and complexity of running two separate public companies. Nokia has set a target of generating ' 1.2 billion of annual synergies in full-year 2018. Nokia had agreed to acquire Alcatel-Lucent in April 2015 for ' 15.6 billion. It caps a radical three-year transformation that started with the purchase of Siemens' share in Nokia Siemens Networks in 2013 and was followed by the divestments of the devices and services and mapping businesses in the next 2 years.