End of an Era, Nokia Shareholders Approve the Nokia-Microsoft Deal

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As we all know last September 3,Nokia and Microsoft announced that  Microsoft is set to acquire the Devices and Services Unit of Nokia leaving the Here Services, NSN, and advance technologies. And today Nokia Shareholders approved  the Microsoft Deal to purchase the company’s phone division. The Financial Times reports that 99.7 percent of participating shareholders (around 5,000 attended the vote) were in favour of the deal going through. Microsoft will now integrate the Nokia division into Redmond, taking control of future Lumia and Asha products.

The transaction is expected to close in the first quarter of 2014. Stephen Elop will return to Microsoft to lead the devices division.

Source: IB Times

Press Release From Nokia

Nokia Corporation
Stock exchange release
November 19, 2013 at 19.06 (CET +1)

Espoo, Finland -The Extraordinary General Meeting of Nokia Corporation held on November 19, 2013 (“EGM”) decided to confirm and approve the sale of substantially all of Nokia’s Devices & Services business to Microsoft in line with the proposal and recommendation of the Nokia Board of Directors. More than 99 % of the votes cast at the EGM were in favor of this proposal.

“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,” said Nokia Board Chairman and interim CEO, Risto Siilasmaa. “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,” he said.

The transaction is expected to close in the first quarter of 2014, subject to regulatory approvals and other customary closing conditions. The transaction was originally announced on September 3, 2013. Further information on the transaction has been included in Nokia’s releases concerning the transaction and the EGM dated September 3, September 19 and October 14, 2013 as well as the proxy materials that were made available ahead of the EGM.

Well, Goodbye Nokia and Hello Jolla!

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