Today, Nokia shareholders may approve the deal with Microsoft (Update: approved)
Today in Finland held an emergency meeting with the shareholders of Nokia, which should decide about the future of the sale of mobile business to Microsoft. According to Reuters, the financial benefit of this transaction is likely to outweigh resistance to several investors who do not approve of the sale of national symbol of the Nordic countries. Recall that in early September, Nokia agreed to sell its mobile business and license patents to Microsoft for 5.44 billion euros.
It is expected that the deal, which must be closed during the first quarter of next year, will increase cash Nokia to almost 8 billion Euro compared to 2 billion euros in the third quarter. This will allow the company to return money to shareholders via a special dividend. After the sale of the mobile business Finns will continue to trade in telecommunications equipment through Nokia Services and Networks (NSN). In addition, the company will receive income from their unit that specializiruetsya on digital maps, and a huge portfolio of patents.
Meanwhile, it became known that the emotional aspect of the transaction not alien even to the employees of the Nokia factory in the Chinese city of Dongguan. According to Chinese am, they went outside to protest against the deal with Nokia, Microsoft, and insist on receiving compensation that was paid to their colleagues in the Vietnamese factory of Nokia. It is expected that many Finns will also take part in a protest before a meeting of shareholders, which will begin at 16:00 Moscow time.
Update: a few minutes ago, held in Helsinki EGM Nokia, the predominant majority (99.7% of the vote) approved the sale of the mobile business of the Finnish company to Microsoft in accordance with the proposed in September conditions for the amount of 5.44 billion euros. The transaction remains subject to approval by regulatory authorities and is expected to be completed next year.
: Reuters, UnwiredView