Microsoft is on course to close its deal for substantially all of Nokia’s devices and services business in Q1 2014 after receiving “overwhelmingly strong support” from shareholders.
More than 99% of Nokia investors attending its EGM yesterday…
Microsoft is on course to close its deal for substantially all of Nokia’s devices and services business in Q1 2014 after receiving “overwhelmingly strong support” from shareholders.
More than 99% of Nokia investors attending its EGM yesterday voted in favour of the €5.4bn (US$7.16bn) proposal.
Nokia chairman and interim CEO Risto Siilasmaa said: “We are delighted that shareholders have given us overwhelmingly strong support to proceed with this transformative agreement.
“Today’s vote brings us closer to completing a transaction which will mark the beginning of the next chapter in Nokia’s near 150-year history, offering the potential of greater value for shareholders.”
The transaction, originally announced on 3 September 2013, is still subject to regulatory approvals.
Reports had suggested that Nokia could use the cash to buy its struggling French rival Alcatel Lucent. However, a Wall Street Journal report citing sources claimed the group had ruled out the move.
