je.st
news
Nokia to complete handsets sale to Microsoft 25 April
2014-04-21 17:04:00| Telecompaper Headlines
(Telecompaper) Nokia said it expects to complete the sale of its mobile phone business to Microsoft on 25 April, around a month later than originally expected. The companies recently secured one of the last, key regulatory approvals, in China. They first announced the agreement for Microsoft to buy substantially all of Nokia's Devices & Services division for EUR 3.8 billion in September 2013. As part of the agreement, Microsoft will pay EUR 1.65 billion to license Nokia's patents, bringing the total value of the deal to EUR 5.4 billion in cash. Nokia's former CEO Stephen Elop will continue to run the mobile business at Microsoft.
Tags: complete
april
sale
microsoft
Category:Telecommunications