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Nokia Oyj expects sale of substantially all of Devices & Services business to Microsoft Corp to close in April 2014

Monday, 24 Mar 2014 02:11am EDT 

Nokia Oyj:Says that it now expects transaction whereby Nokia will sell substantially all of Devices & Services business and license its patents to Microsoft Corp to close in April 2014.This compares with Nokia's previous expectation on the transaction closing in the first quarter of 2014, which Nokia communicated when the company first announced the transaction on Sept. 3, 2013. Nokia and Microsoft remain committed to the transaction.Nokia and Microsoft have already received most of required regulatory approvals, including approvals from European Commission and U.S. Department of Justice.Furthermore, Nokia and Microsoft continue to make good progress related to closing conditions and integration planning.However, transaction is pending approvals from certain antitrust authorities in Asia which are still conducting their reviews. 

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0.01 +0.12%
24 Dec 2014