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Nokia shareholders approve sale of mobile business to Microsoft
CFO and interim President of Nokia Timo Ihamuotila speaks to the shareholders at the Extraordinary General Meeting (EGM) of Nokia Corporation on November 19, 2013. Finnish telecom company Nokia announced that its shareholders have approved the 5.44 billion euro ($7.35 billion) sale of its mobile phone division to US multinational Microsoft. AFP PHOTO
Nokia shareholders approved the 5.4 billion euros ($7.4 billion) sale of the company's mobile phone business to Microsoft, deciding the deal's financial benefits outweighed any objections to the loss of a Finnish national asset.
Investors holding more than 99 per cent of Nokia voting rights supported the deal, according to a final tally at Tuesday's shareholders meeting in Helsinki. The sale is expected to close in the first quarter of next year after regulatory clearances.
