Member access

4-Traders Homepage  >  Shares  >  Nasdaq  >  Microsoft Corporation    MSFT   US5949181045

MICROSOFT CORPORATION (MSFT)

544
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Microsoft Corporation : EU Clears Microsoft-Nokia Mobile Deal

12/04/2013 | 12:11pm US/Eastern
Recommend:
0

BRUSSELS--Microsoft Corp. (>> Microsoft Corporation) on Wednesday won unconditional approval from the European Union to buy Nokia Corp.'s mobile phone business, a deal the U.S. software giant hopes will propel it into the market for digital devices.

The 5.4 billion euro ($7.2 billion) purchase includes a 10-year licensing agreement of the Finnish smartphone maker's patent portfolio and its smartphone products.

The approval was widely expected and comes two days after the U.S. Department of Justice and the Federal Trade Commission cleared the deal.

The European Commission, the EU antitrust authority, said it found "minimal overlap" of the companies' activities.

"Several strong rivals, such as Samsung and Apple, will continue to compete with the merged entity," the commission said in a statement.

The company has said it expects the deal to close in the first quarter of 2014.

Nokia agreed to the deal in September after struggling to recover from its late entry in the smartphone business. About 32,000 Nokia employees are expected to join Microsoft.

Nokia shareholders agreed to the sale last month.

The company was once Finland's flagship, worth 4% of the national gross domestic product.

--Write to Vanessa Mock at vanessa.mock@dowjones.com

Stocks mentioned in the article : Microsoft Corporation
Recommend :
0
React to this article
Latest news on MICROSOFT CORPORATION
2h ago MICROSOFT : Hanu Insight Receives Phenomenal Response to Q4 Joint GTM with Micro..
2h agoDJTECH STOCKS : Microsoft, Pandora Lead Techs Higher
3h ago MICROSOFT : Minecraft to Continue Availability on All Formats
4h ago MICROSOFT : New Microsoft Dynamics CRM breaks down silos between marketing and s..
4h ago MICROSOFT : The Carlsberg Group goes 'GloCal' with Office 365
5h ago VMWARE : Software-Defined Storage Architecture: Optimizing Business Value and Mi..
6h ago MICROSOFT : Hosts Cardenas, National Publications for Discussion of Latino Stem ..
7h ago MICROSOFT : Boyer & Associates Hosts Microsoft Dynamics ERP Comparison Event on ..
7h ago China August FDI at two-and-half-year low as factory investments slow
9h ago MICROSOFT : Minecraft creator quits Mojang 'for his sanity' after pound(s)1.5bn ..
Advertisement
Chart
Duration : Period :
Microsoft Corporation Technical Analysis Chart | MSFT | US5949181045 | 4-Traders
Income Statement Evolution
Microsoft Corporation : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF