Nokia-Microsoft deal lives, and that too absolutely. Around 99.7% of Nokia’s shareholders, who possessed four-fifth of Nokia’s shares, elected for the sell-out of Nokia to Microsoft.
The deal worth $7.2 billion was provided last July and after it is enclosed, present CEO Stephen Elop will be shifting back to Microsoft organization, where he is already regarded for the opened CEO slot.
Bit of level of resistance came from Finnish shareholders who were not as willing to see a product which is an symbol of nationwide pride go away to US.Transition is likely to get finished by early 2014.
Overall, the stakeholders were satisfied with the increase in stock value they were going to get against the deal. Company’s share price has doubled since the strategy was declared in early Sept.
After the completing takeover, Nokia will keep proceed to stay as a organization outside of Microsoft and will maintain privileges to its brand name and control.
However, for a interval of 10 years, Nokia — as a brand name — will be certified to Microsoft , which it will use for for Asha and other low-end mobile phones. Microsoft will use its own (yet to be decided) brand name for mobile phones.
After the deal is finished, Microsoft will also be free to use and certificate any of Nokia’s patents. The Finnish company’s HERE and Solutions & Systems sections will keep working on their own later on.So lastly, with the shareholders satisfied and willing, Nokia is all but prepared to shift to Redmond.
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