U.S. antitrust regulators have approved
Microsoft Corp's deal to buy Nokia
Corp's mobile phone business, the
Federal Trade Commission said on
Monday.
The approval, which was expected, was
dated November 29.
Devices & Services business in 5.44
billion euros deal
)
The next step will be for the companies
to win approval in Europe for the
proposed $7.3 billion transaction.
Two people familiar with the matter
told Reuters on November 22 that the
transaction was headed for
unconditional approval in Brussels.
The
EU competition watchdog has set a
December 4 deadline for its decision.
Nokia had in September agreed to sell
its devices and services business and
license its patents to Microsoft after
failing to recover from a late start in
the smartphone sector.
The purchase underscores Microsoft's
push into the competitive consumer
devices market, where it faces fierce
competition from market leader
Samsung Electronics and Apple .
Nokia shareholders in mid-November
gave a thumbs-up to the sale of what
was once Finland's biggest brand, at
one point worth 4 percent of the
national GDP.
© Thomson Reuters 2013
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