Member access

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

MICROSOFT CORPORATION (MSFT)

603
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Microsoft Corporation : EU Clears Microsoft-Nokia Mobile Deal

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

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
React to this article
Latest news on MICROSOFT CORPORATION
08:33a APPTIX ASA : Managed & Hosted Exchange Pioneer Apptix Launches Office 365 for Mi..
06:32a MICROSOFT : Spartan Browser Outperforms IE in Benchmarks
06:13a MICROSOFT : Kenya-Based MFI Goes Mobile With Microsoft Dynamics Nav
05:55aDJMARKET SNAPSHOT : Apple Earnings, Fed Vie For Investor Attention This Week
01:46a MICROSOFT : Computers cannot tap into life's real wonders
01:18a MICROSOFT : nifty HoloLens kicks Glass
12:42a MICROSOFT : Desktop Notifications Alert Software DeskAlerts To End Internet Expl..
01/25 Eyes on Fed after ECB, other bank stimulus moves
01/25 MICROSOFT : Innovation next: To Mars through HoloLens!
01/25 MICROSOFT : dials back Win 10 upgrade rhetoric on Phone platform
Advertisement
Chart
Duration : Period :
Microsoft Corporation Technical Analysis Chart | MSFT | US5949181045 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF