Nokia shareholders to vote Tuesday on Microsoft purchase

Nokia shareholders to vote Tuesday on Microsoft purchase
Nokia shareholders are expected to vote Tuesday on whether to allow the Finnish based manufacturer to sell its handset business to Microsoft. Back in September, Microsoft agreed to buy Nokia's devices and services business and license its patents for $7.36 billion. While Nokia shareholders will have to agree to the deal, U.S. regulatory agencies like the FCC and the DOJ will also have to approve the transaction.

The deal is expected to close in the first quarter of 2014, but before that happens, there is Tuesday's voting which will take place after shareholders get to speak their mind about the transaction. Not all Nokia stockholders are in favor of the deal and those who want to express their dissatisfaction will be able to do so tomorrow at Helsinki's Ice Hall Arena, where the voting is going to take place.

One of the big complaints in Finland is that a company seen as a national treasure is being sold. At one time, Nokia accounted for 4% of Finalnd's GDP. Another complaint heard from Nokia stockholders, deals with former CEO Stephen Elop's decision to align Nokia with Microsoft's Windows Phone platform instead of Google's open source Android OS.

source: Reuters

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