Microsoft Gets Clearance to Buy Nokia

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This week, regulatory agencies in the U.S. and Europe have signed off on Microsoft’s plan to buy Nokia. The deal is now expected to close next year.

Both the European Commission and the U.S. Federal Trade Commission have approved the deal in the past few days. The shareholders of both companies had already approved it.

The software giant is spending $7 billion to acquire the Finnish company, which will become part of its devices division. Nokia’s current CEO Stephen Elop will head up this division.

The Lumia line of Windows Phones will continue, but the fate of Nokia’s Lumia 2520 is unclear, as Microsoft has its own Surface line of tablets.



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