Nokia gets China approval to sell phone business to Microsoft

Nokia has received approval from Chinese authorities to sell its mobile phone business to Microsoft, it said on Tuesday.

Helsinki: Nokia has received approval from Chinese authorities to sell its mobile phone business to Microsoft, it said on Tuesday, and added the companies expect the deal to close in April.

 

Nokia agreed in September to sell the business to Microsoft in a 5.4 billion euro deal.

 

"Nokia and Microsoft have now received regulatory approvals from the People's Republic of China, the European Commission, the US Department of Justice and numerous other jurisdictions," Nokia said in a statement.

 

Nokia shares opened up 2.4 percent at 5.44 euros after the approval was announced.

 

Reuters

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