This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nokia Extraordinary General Meeting 2013 Confirms And Approves The Sale Of Substantially All Of Nokia's Devices & Services Business To Microsoft

ESPOO, Finland, Nov. 19, 2013 (GLOBE NEWSWIRE) --
Nokia Corporation
Stock exchange release
November 19, 2013 at 19.06 (CET +1)

Espoo, Finland -The Extraordinary General Meeting of Nokia Corporation held on
November 19, 2013 ("EGM") decided to confirm and approve the sale of
substantially all of Nokia's Devices & Services business to Microsoft in line
with the proposal and recommendation of the Nokia Board of Directors. More than
99 % of the votes cast at the EGM were in favor of this proposal.

"This is a significant step forward for Nokia. We are delighted that
shareholders have given us overwhelmingly strong support to proceed with this
transformative agreement," said Nokia Board Chairman and interim CEO, Risto
Siilasmaa. "Today's vote brings us closer to completing a transaction which will
mark the beginning of the next chapter in Nokia's near 150-year history,
offering the potential of greater value for shareholders," he said.

The transaction is expected to close in the first quarter of 2014, subject to
regulatory approvals and other customary closing conditions. The transaction was
originally announced on September 3, 2013. Further information on the
transaction has been included in Nokia's releases concerning the transaction and
the EGM dated September 3, September 19 and October 14, 2013 as well as the
proxy materials that were made available ahead of the EGM.

It should be noted that Nokia and its business are exposed to various risks and
uncertainties and certain statements herein that are not historical facts are
forward-looking statements, including, without limitation, those regarding: A)
the planned sale by Nokia of substantially all of Nokia's Devices & Services
business, including Smart Devices and Mobile Phones (referred to below as "Sale
of the D&S Business") pursuant to the Stock and Asset Purchase Agreement, dated
as of September 2, 2013, between Nokia and Microsoft International Holdings
B.V.(referred to below as the "Agreement"); B) the closing of the Sale of the
D&S Business; C) receiving timely, if at all, necessary regulatory approvals for
the Sale of the D&S Business; D) expectations, plans or benefits related to or
caused by the Sale of the D&S Business; E) expectations, plans or benefits
related to Nokia's strategies, including plans for Nokia with respect to its
continuing businesses that will not be divested in connection with the Sale of
the D&S Business; F) expectations, plans or benefits related to changes in
leadership and operational structure; G) expectations and targets regarding our
operational priorities, financial performance or position, results of operations
and use of proceeds from the Sale of the D&S Business; and H) statements
preceded by "believe," "expect," "anticipate," "foresee," "sees," "target,"
"estimate," "designed," "aim", "plans," "intends," "focus," "will" or similar
expressions. These statements are based on management's best assumptions and
beliefs in light of the information currently available to it. Because they
involve risks and uncertainties, actual results may differ materially from the
results that we currently expect. Factors, including risks and uncertainties
that could cause these differences include, but are not limited to: 1) the
inability to close the Sale of the D&S Business in a timely manner, or at all,
for instance due to the inability or delays in obtaining necessary regulatory
approvals for the Sale of the D&S Business, or the occurrence of any event,
change or other circumstance that could give rise to the termination of the
Agreement; 2) the potential adverse effect on the sales of our mobile devices,
business relationships, operating results and business generally  resulting from
the announcement of the Sale of the D&S Business or from the terms that we have
agreed for the Sale of the D&S Business; 3) any negative effect from the
implementation of the Sale of the D&S Business, as we may forego other
competitive alternatives for strategies or partnerships that would benefit our
Devices & Services business and if the Sale of the D&S Business is not closed,
we may have limited options to continue the Devices & Services  business or
enter into another transaction on terms favorable to us, or at all; 4) our
ability to effectively and smoothly implement planned changes to our leadership
and operational structure or maintain an efficient interim governance structure
and preserve or hire key personnel; 5) any negative effect from the
implementation of the Sale of the D&S Business, including our internal
reorganization in connection therewith, which will require significant time,
attention and resources of our senior management and others within the company
potentially diverting their attention from other aspects of our business; 6)
disruption and dissatisfaction among employees caused by the plans and
implementation of the Sale of the D&S Business reducing focus and productivity
in areas of our business; 7) the amount of the costs, fees, expenses and charges
related to or triggered by the Sale of the D&S Business; 8) any impairments or
charges to carrying values of assets or liabilities related to or triggered by
the Sale of the D&S Business; 9) potential adverse effects on our business,
properties or operations caused by us implementing the Sale of the D&S Business;
10) the initiation or outcome of any legal proceedings, regulatory proceedings
or enforcement matters that may be instituted against us relating to the Sale of
the D&S Business, as well as the risk factors specified on pages 12-47 of
Nokia's annual report on Form 20-F for the year ended December 31, 2012 under
Item 3D. "Risk Factors." and risks outlined in our interim report issued on
October 29, 2013. Other unknown or unpredictable factors or underlying
assumptions subsequently proving to be incorrect could cause actual results to
differ materially from those in the forward-looking statements. Nokia does not
undertake any obligation to publicly update or revise forward-looking
statements, whether as a result of new information, future events or otherwise,
except to the extent legally required.

About Nokia
Nokia is a global leader in mobile communications whose products have become an
integral part of the lives of people around the world. Every day, more than 1.3
billion people use their Nokia to capture and share experiences, access
information, find their way or simply to speak to one another. Nokia's
technological and design innovations have made its brand one of the most
recognized in the world. For more information, visit

Media Enquiries:

Tel. +358 7180 34900


Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.50 -0.21%
FB $101.46 -0.44%
GOOG $679.30 -0.56%
TSLA $147.62 -1.90%
YHOO $26.78 0.08%


Chart of I:DJI
DOW 15,869.44 +209.26 1.34%
S&P 500 1,854.96 +25.88 1.41%
NASDAQ 4,314.5590 +47.7220 1.12%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs