This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Microsoft Corporation (MSFT), Nokia Corporation (NOK) Deal To Clear EU [REPORT]

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.

Microsoft moves into Nokia’s headquarters

Also this week, there were reports that Microsoft was preparing to move into Nokia’s headquarters in Finland. A representative from Nokia confirmed it with Bloomberg yesterday. This means Microsoft will have a major presence in Finland as Nokia’s other businesses—infrastructure, mapping and licensing—move out of the headquarters in Espoo.

Although most consider the deal between Microsoft Corporation (MSFT - Get Report) and Nokia to be basically done, workers in China are protesting it in an effort to stop it. They’re on strike after complaining that they were forced to sign new contracts which were not as strong because of Microsoft’s purchase of the devices division. At least 59 workers have apparently lost their jobs because they didn’t go to work, but that just turned up the heat on the situation even more.

-By Michelle Jones

null

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $123.25 -0.80%
NOK $7.70 0.79%
MSFT $41.00 -0.51%
AAPL $123.25 -0.80%
FB $83.30 0.35%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs