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UPDATE 1-Nokia wins EU approval for Trolltech buy

(Adds Commission statement, details)

HELSINKI, June 5 (Reuters) - The world's top cellphone maker Nokia NOK1V.HE said on Thursday it has won approval from the European Commission for its acquisition of Norwegian software firm Trolltech TROLL.OL.

Nokia said it will now proceed with payments to shareholders, which are scheduled for June 6. Some 99.4 percent of shareholders have accepted the offer.

“While the activities of Nokia and Trolltech do not overlap horizontally, they are vertically related, as Trolltech’s products can be used in the development of software for mobile handsets,” the Commission said.

Nokia announced the $153 million offer for the Norwegian firm in January as part of its push into services and software.

The Commission said its investigation had showed Trolltech’s products have a limited market presence and that Nokia’s rivals would have several other options available, should Nokia stop supplying Trolltech’s products to its competitors.

Reporting by Tarmo Virki, Helsinki and Brussels newsrooms; Editing by David Cowell and Erica Billingham

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