NEW YORK (TheStreet) -- Shares of Nokia Corp. (NOK) are up 4.99% to $7.58 in premarket trade after the manufacturer of mobile devices and networks won approval from Chinese competition authorities to sell its mobile phone business to Microsoft Corp. (MSFT) without having to change its main technology patent practices, according to Reuters.
Last September, the company agreed to sell the business to Microsoft in a $7.4 billion deal, keeping its patent portfolio that analysts see as a source of future growth.
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