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Nokia shareholders approve sale of handset business
2013-11-20 09:08:00| Telecompaper Headlines
(Telecompaper) Shareholders of Nokia have approved the company's planned sale of its mobile handset business to Microsoft. Nokia said over 99 percent of votes at the extraordinary meeting approved the sale. The transaction is expected to close in the first quarter of 2014, subject to regulatory approvals and other customary closing conditions. Originally announced in September, the sale will see Microsoft acquire the Nokia Devices & Services division for EUR 3.79 billion. In addition it will pay EUR 1.65 billion to license Nokia's patents, bringing the total value of the deal to EUR 5.44 billion in cash.
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Category:Telecommunications