Microsoft is set to wrap up its deal for Nokia’s devices and services business early next year after getting the green-light from the European Commission.
The EC concluded the deal would not raise any competition concerns as “there are only modest…
Microsoft is set to wrap up its deal for Nokia’s devices and services business early next year after getting the green-light from the European Commission.
The EC concluded the deal would not raise any competition concerns as “there are only modest overlaps between the parties’ activities and the links between Microsoft’s mobile operating systems, mobile applications and enterprise mail server software with Nokia’s smart mobile devices are unlikely to lead to competitors being shut out from the market”.
Its approval comes hot on the heels of the thumbs up from US antitrust regulator the Federal Trade Commission (FTC), and a successful shareholder vote in November for the €5.4bn (US$7.16bn) proposal.
The deal is now awaiting the nod from other antitrust authorities before the transaction can be wrapped up.
A Nokia spokesperson said: “As is common with transactions of this global scope, regulatory and other approvals are required in a number of countries. Nokia is pleased that more than half of the regulatory approvals required have already been received, with unconditional clearance from the European Commission, Brazil, Canada, India, Israel, Russia, Turkey, Ukraine and the US. Only six further countries including China need to approve the transaction before it can close, which we continue to anticipate to be in the first quarter of 2014, subject to these approvals and other closing conditions.”
