Microsoft acquisition of Nokia for $7.36bn given US approval

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Deal gets the green light from the US Department of Justice, with the European Commission set to make its decision by tomorrow 

The US Department of Justice has approved Microsoft’s acquisition of Nokia’s devices and services business for $7.36 billion (£4.58 billion).

The deal now requires clearance by the European Union, with anti-trust regulators deciding whether or not the bid breaches competition rules. A decision is set to be made by the European Commission by tomorrow.

Last month, Nokia shareholders approved the sale of its devices and services business to Microsoft following an extraordinary general meeting in Helsinki.

The acquisition was first announced in September, and is scheduled for completion in Q1 2014. Upon completion, Nokia’s 32,000 employees will transfer to Microsoft.

 

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