Nokia shareholders agree to Microsoft takeover

Nokia shareholders have approved the proposed acquisition by Microsoft. The deal gives Microsoft the Devices & Services division of Nokia, which means that the Finnish company will largely be in American hands.

The approval was confirmed by The Financial Times, reports including The Verge. The majority of the shareholders who attended the meeting have given their approval for the acquisition, which means that Microsoft could count on at least 80 percent of the shares. With this, the company has taken a major hurdle in the process of completing the acquisition of large parts of Nokia.

It was previously announced that Microsoft plans to acquire Nokia’s Devices & Services division, the main business unit of the Finnish phone maker. The acquisition involves an amount of 5.5 billion euros. Part of the purchase price is intended for a license to the patents that Nokia owns.

For the time being, it is unclear when Microsoft can complete the acquisition of the purchased parts of Nokia. The company from Redmond has not yet announced exactly what it will do with Nokia.