Microsoft and Nokia are said to have crossed another hurdle in Microsoft's proposed purchase of Nokia's devices division.
It sounds like Microsoft Corporation (MSFT - Get Report) and Nokia Corporation (NOK - Get Report) (NOK1V) HEL:NOK1V will be cleared by European Union regulators to complete their deal. That’s according to anonymous sources cited by Foo Yun Chee of Reuters.
Microsoft to receive “unconditional” approval
Microsoft offered $7.3 billion to buy most of Nokia’s devices division. That deal was revealed in September and comes with a 10-year licensing deal which allows Microsoft to license some of Nokia’s patents. It also shows just how serious Microsoft is beginning to get about devices as it battles Samsung and Apple Inc. (AAPL - Get Report)
Sources told Reuters that the European Commission will likely approve the deal without putting any conditions on it. The competition watchdog for the EU set a deadline of Dec. 4 for regulators with the agency to hand down their decision.Regulators in several other countries, including Israel, India, Turkey and Russia have already agreed to allow Microsoft Corporation (MSFT - Get Report)’s purchase to go through. Also this week and Nokia Corporation (NOK - Get Report) (NOK1V) HEL:NOK1V voted in favor of the deal.