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Technology Stocks : Nokia Corp. (NOK)
NOK 6.855-4.1%12:50 PM EST
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From: zax11/19/2013 10:05:09 AM
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Nokia-Microsoft Deal Approved By Nokia Shareholders
November 19, 2013 | By Pradeep

wmpoweruser.com



Nokia Shareholders has approved the Microsoft-Nokia deal worth $7.35 billion which was announced few months back. As a result, Nokia’s Devices and Services business will be now part of Microsoft. Even though there were lots of opposing parties in the past for this deal, about 99.7 percent of the shareholders approved the deal. This shows that most of the shareholders understand that Nokia is in financial trouble and they cannot continue to operate with the loss making devices and services division.
For Microsoft, this approval is like crossing another hurdle. Microsoft and Nokia are working in several countries where Nokia is operating to get approvals from the respective governments. The deal is expected to close by early 2014.
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