Microsoft’s €5.4bn (US$7.16bn) proposal to acquire Nokia’s handset business has been given the okay by US antitrust regulator the Federal Trade Commission (FTC).
In a statement dated 29 November but published yesterday, the FTC said the…
Microsoft’s €5.4bn (US$7.16bn) proposal to acquire Nokia’s handset business has been given the okay by US antitrust regulator the Federal Trade Commission (FTC).
In a statement dated 29 November but published yesterday, the FTC said the transaction has been granted approval and that it was terminating its investigation into the acquisition.
Nokia shareholders voted overwhelmingly in favour of the deal last month. It is also awaiting the approval of the European Commission (EC), which is set to finish its phase I investigation tomorrow.
It was previously reported by a newswire citing two unnamed sources that the EC will clear the deal without conditions.
The transaction, originally announced on 3 September 2013, would see Microsoft acquire almost all of Nokia’s devices and services business for €3.79bn, as well as a portfolio of patents for a further €1.65bn.
JP Morgan is advising Nokia on the transaction and Microsoft is reported to be advised by Goldman Sachs.
