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

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Published November 22, 2013

| FOXBusiness

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.

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.

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.

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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http://www.foxbusiness.com/technology/2013/11/22/report-european-union-regulators-set-to-bless-microsoft-nokia-deal/