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European Commission Approves Microsoft-Nokia Deal

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The European Commission has approved Microsoft’s proposed acquisition of Nokia’s Devices and Services Division, declaring that the deal does not raise any competitive concerns, which means the $7.2 Billion deal which is scheduled to be completed by the end of the first quarter of 2014 will indeed go ahead as planned.

It was seen by many as a formality after Nokia Shareholders voted to agree to the deal with a 99.7% majority at an “Extraordinary General Meeting” held on November 22nd, and the US Department of Justice also approving the deal two days ago.

The buyout will see all of Nokia’s smartphone and feature phone manufacturing, including most of the staff and factories go under Microsoft management, the Nokia brand will remain on non smart devices for the time being, but the Lumia Windows Phone range will drop the Nokia name (unfortunately) once the deal is complete (maybe even before, who knows?)

Nokia will continue however to operate as an individual corperation, with work continuing on the lucrative mapping platform Here and the Nokia Solutions and Networks (NSN).

Source SymbianTweet

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