The EU’s executive body has cleared Microsoft’s $7.36 billion (£4.58bn) purchase of of Nokia’s devices and services business
Microsoft’s $7.36 billion (£4.58bn) takeover of Nokia’s devices and services division has been approved by the EU Commission.
The deal was given the green light by the US Department of Justice on Monday following approval by Nokia shareholders after an extraordinary general meeting in Helsinki last month.
In its ruling, the EU Commission said that the transaction “would not raise any competition concerns” due to the strong competition provided by Apple and Samsung.
The Commission also concluded that Microsoft was “unlikely” to restrict the supply of its Windows Phone operating system or its mobile apps such as its Office suite apps and communication app Skype as its share in the market is “limited”.
The Commission added: “To better compete with the leading Android and Apple OS platforms, Microsoft likely needs to continue relying on third party device suppliers to broaden consumer adoption and attract mobile app developers.”
The deal, which was first announced in September, is expected to be completed by March 2014. Upon completion, Nokia’s 32,000 employees will transfer to Microsoft.