The last thing we heard about the Microsoft and Nokia deal was that it is expected to be concluded in April, and now Nokia has announced that the sale has received regulatory approval in China.
Microsoft are purchasing Nokia’s mobile phone and services division, which basically gives Microsoft’s Nokia’s smartphone business, including the Lumia Windows Phone brand.
Nokia announced that the planned transaction whereby Nokia plans to sell substantially all of its Devices & Services business to Microsoft has today received regulatory approval from the Ministry of Commerce of the People’s Republic of China.
As previously communicated, the closing of the transaction, which was announced on September 3, 2013, is subject to regulatory approvals and other customary closing conditions. Nokia and Microsoft have now received regulatory approvals from the People’s Republic of China, the European Commission, the U.S. Department of Justice and numerous other jurisdictions. Nokia and Microsoft continue to expect the transaction to close during April 2014, as communicated in our press release from March 24, 2014.
Microsoft is paying Nokia a total of $7.3 billion US dollars in the deal, it is expected to be finalized before the end of April.
Source NokiaFiled Under: Technology News