Microsoft expects to wrap up its €5.4bn (US$7.16bn) deal for Nokia’s handset and services business on Friday after being cleared by regulators in China.
Regulatory hang-ups have delayed closure by about four weeks and the technology giant said it…
Microsoft expects to wrap up its €5.4bn (US$7.16bn) deal for Nokia’s handset and services business on Friday after being cleared by regulators in China.
Regulatory hang-ups have delayed closure by about four weeks and the technology giant said it had tweaked the deal slightly over the last several months.
Microsoft will no longer be acquiring a factory Nokia has in Korea and will instead pick up 21 employees from Nokia’s China-based Chief Technology Office. Microsoft has also agreed to manage the nokia.com domain and social media sites for up to a year.
Brad Smith, Microsoft’s general counsel, said: “As with any multinational agreement of this size, scale and complexity, our two companies have made adjustments to the original deal throughout the close preparation process.”
Nokia releases Q1 2014 results on 29 April, when the Finnish vendor is expected to update investors on its future strategy and management team.
