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Nokia shareholders approve sale of smartphones to Microsoft |
November 19, 2013
More than 99 percent of Nokia's shareholders have voted to approve Microsoft's acquisition of the Finnish company's Devices & Services business.Nokia entered into an agreement to sell "substantially all" of the Devices & Services business to Microsoft for €3.79 billion (US$5.1 billion) in the beginning of September. Once the acquisition closes, Microsoft will also pay €1.65 billion to license Nokia's patents.The vote took place at an extraordinary general meeting in the Helsinki Ice Hall, where executives explained the reasoning behind the deal and were grilled by shareholders for several hours.The acquisition is expected to close in the first quarter of next year. Microsoft's CEO Steve Ballmer presented it as a win for employees, shareholders and customers of both companies.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2064900/nokia-shareholders-approve-sale-of-smartphones-to-microsoft.html#tk.rss_all
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