More NewsNokia Sale of Mobile Phone Business to Microsoft Set to Complete

Nokia Sale of Mobile Phone Business to Microsoft Set to Complete

Finnish telecoms group Nokia said that the
sale of its mobile phone business to Microsoft
, first mooted last autumn, is set for completion on 25 April.

The €5.4bn deal was originally scheduled to go through by the end of last month, but was delayed in the absence of regulatory clearances from several Asian countries.

However the transaction secured approval from Chinese regulators earlier this month, removing one of the key final obstacles. The deal is “now subject only to certain customary closing conditions,” Nokia said in a news release,

According to reports, Nokia and Microsoft are still awaiting approval from the South Korean regulator although this is not regarded as essential for closing the transaction.

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