U.S. Okays Microsoft Acquisition of Nokia Phone Business
With no fanfare and just a list of all the subsidiaries included in the deal, the U.S. Federal Trade Commission (FTC) and the U.S. Department of Justice (DoJ) on Monday granted permission for the acquisition by Microsoft Corp. (NASDAQ: MSFT) of the handset business of Nokia Corp. (NYSE: NOK) for approximately $7.2 billion. The merger now must clear European Union (EU) regulators before it can close.
There is little reason to think the deal wont be approved in Europe. The EU has set a deadline of Wednesday to announce its decision on the merger which has already been approved in Russia, India, Turkey, and Israel and by Nokia shareholders.
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