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 (NASDAQ:MSFT) and Nokia Corporation (NYSE:...
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) and Nokia Corporation ( NOK) ( 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) 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)’s purchase to go through. Also this week and Nokia Corporation ( NOK) ( 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) 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.