Report: European Union Regulators Set to Bless Microsoft's Nokia Deal

By Technology FOXBusiness

REUTERS

(REUTERS)

Microsoft’s (MSFT) $7.3 billion acquisition of Nokia’s (NOK) mobile phone business is reportedly poised to win approval from antitrust regulators in the European Union without conditions.

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The blessing from Europe helps clear the way for Microsoft’s biggest-ever transaction, which is aimed at cementing its shift from an aging software giant to a modern devices-and-services company.

According to Reuters, EU antitrust regulators plan to green light the deal without requiring conditions such as divestitures.

The EU had set a Dec. 4 deadline to device on the matter.

Neither Microsoft nor the EU immediately responded to a request for comment on the report.

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Microsoft unveiled the deal in September, saying it would pay $7.2 billion for the Finnish company’s mobile phone business and license its patents. The acquisition steps up Microsoft’s fight with industry heavyweights Apple (AAPL), Google (GOOG) and Samsung.

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Shares of Nokia jumped 2.64% to $8.16 on Friday afternoon, while Redmond, Wash.-based Microsoft ticked up 0.59% to $37.62.

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