HELSINKI – Nokia has received approval from Chinese authorities to sell its mobile phone business to Microsoft, it said on Tuesday, and added the companies expect the deal to close in April.
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Nokia agreed in September to sell the business to Microsoft in a 5.4 billion euro ($7.4 billion) deal.
"Nokia and Microsoft have now received regulatory approvals from the People's Republic of China, the European Commission, the U.S. Department of Justice and numerous other jurisdictions," Nokia said in a statement.
Nokia shares opened up 2.4 percent at 5.44 euros after the approval was announced.
($1 = 0.7277 euros)
(Reporting by Sakari Suoninen; Editing by Pravin Char)