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.
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)