CORRECTED: Nokia Investors OK €5.4B Mobile Sale, IP License To Microsoft

Law360, Los Angeles (November 19, 2013, 3:20 PM EST) -- Nokia Corp. shareholders on Tuesday approved a €5.44 billion ($7.3 billion) deal selling its handset and services business and licensing a portfolio of patents to Microsoft Corp., a transaction Nokia has said will bolster its position in the mobile industry as it reshapes itself to better compete with rivals.

More than 99 percent of shareholders at a meeting Tuesday in Helsinki voted to approve the sale, according to Nokia. Under the terms of the transaction, which was originally announced Sept. 3, Microsoft agreed to fork over €3.79...
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