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4-Traders Homepage  >  Equities  >  Nasdaq  >  Microsoft Corporation    MSFT

Delayed Quote. Delayed  - 05/26 10:14:59 pm
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Microsoft Corporation : EU Clears Microsoft-Nokia Mobile Deal

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12/04/2013 | 06:11pm CEST

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 [email protected]

Stocks mentioned in the article : Microsoft Corporation
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Financials ($)
Sales 2017 96 236 M
EBIT 2017 29 165 M
Net income 2017 19 043 M
Finance 2017 3 291 M
Yield 2017 2,27%
P/E ratio 2017 28,15
P/E ratio 2018 22,54
EV / Sales 2017 5,58x
EV / Sales 2018 5,07x
Capitalization 540 127 M
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Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 73,6 $
Spread / Average Target 5,3%
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Satya Nadella Chief Executive Officer & Non-Independent Director
Bradford L. Smith President & Chief Legal Officer
John Wendell Thompson Independent Chairman
Jean-Philippe Courtois President-Global Sales, Marketing & Operations
Amy E. Hood Chief Financial Officer & Executive Vice President
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