Nokia one step away from joining the Microsoft family

Tanjala Gica

The deal, approved by 99.5 percent of Nokia’s 3,900 investors, will see the technology giant pay 5.4 billion euros ($7.2 billion). This will also see it acquire licence patents from the phonemaker.

The transaction, announced in September, has not been met with universal appeal, particularly amongst Finns who regard the phone company as a national success. Nevertheless, the fact remains that Nokia has seen its share of the smartphone market shrink at a time when Apple and Samsung have risen in stature.

As one shareholder, Hannu Tyyppo, was quoted as saying; “This is a really good result. It's a new beginning for Nokia."

Regulators must now clear the sale, however it is widely expected to be finalised early next year.