Nokia Sells Out To Microsoft

nokiaHELSINKI, Nov 19 (Reuters) – Nokia shareholders approved the 5.4 billion euros ($7.4 billion) sale of the company’s mobile phone business to Microsoft, deciding the deal’s financial benefits outweighed any objections to the loss of a Finnish national asset.

Investors holding more than 99 percent of Nokia voting rights supported the deal, according to a final tally at Tuesday’s shareholders meeting in Helsinki. The sale is expected to close in the first quarter of next year after regulatory clearances.

Nokia had in September agreed to sell its devices and services business and license its patents to Microsoft after failing to recover from a late start in smartphones.

 

Source: The Huffington Post

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