The planned sale of Nokia’s core business to Microsoft threatens the part of the shareholders apparently no danger. Almost all investors who have already voted in advance of the special meeting on Tuesday would have agreed to the sale, reports the Financial Times . These investors reportedly represent four-fifths of the voting shares. The sale is now as good as through, even if the voting has not been officially completed.
Elop and Ballmer have threaded the deal.
Image: Nokia Microsoft wants to take over Nokia’s mobile phone division for 3.8 billion euros, plus another 1.65 billion euros for the right to use Nokia’s patent portfolio. The acquisition is still subject to regulatory approvals. Both companies anticipate that the transaction in the first quarter of 2014 can be completed. Nokia then exists as network equipment on, the Finns have just taken over the Siemens share in the joint venture NSN.
The extraordinary shareholders’ meeting is expected to take in spite of the fixed income for a while. Smaller investors make loud Financial Times their frustration over the sellout of the Nokia tradition and the princely premium for ex-CEO Stephen Elop air. The manager, who is returning to Microsoft, is set to receive almost 19 million euros. “Everything is gone Except the whining,” the UK financial sheet summarizes the course of the meeting together.
Elop resigned with announcement of the sale of the CEO, Nokia. The Canadian returned to his former employer and Microsoft will lead the new mobile phone division there. Elop Nokia had enacted a new operating system in his tenure with Windows Phone, but the descent of the tradition manufacturer could not stop. Meanwhile, Nokia sees light at the end of the tunnel and Windows Phone summarizes the market slowly walk away.
Elop is meanwhile also as a prime candidate to succeed Steve Ballmer, who wants to vacate the executive chair at Microsoft soon. By the end of a successor should be found. (VBR)