11/19/2013 5:24:06 PM
Nokia approves sale of handset wing to Microsoft
Nokia has hailed the sell off its the majority of its devices and services business to Microsoft as a 'significant step forward' for the manufacturer.
More than 99% of the votes cast at today's extraordinary general meeting backed the sale of the business to Microsoft. The deal is expected to be formally completed in the first quarter of next year and brings the relationship between Windows Phone pioneer Nokia and the manufacturer of the OS even closer.
Nokia board chairman and interim CEO Risto Siilasmaa said: 'This is a significant step forward for Nokia. We are delighted that shareholders have given us overwhelmingly strong support to proceed with this transformative agreement. Today's vote brings us closer to completing a transaction which will mark the beginning of the next chapter in Nokia's near 150-year history, offering the potential of greater value for shareholders.'
Author: Graeme Neill