Microsoft Corporation (MSFT): Deal to buy Nokia gets approved in China

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Microsoft Corporation (NASDAQ:MSFT) has received approval by Chinese regulators to buy Nokia’s devices business for $7.2 billion. Nokia said that the company specifically received regulatory approval from the Ministry of Commerce of the People’s Republic of China.

“Nokia and Microsoft have now received regulatory approvals from the People’s Republic of China, the European Commission, the U.S. Department of Justice and numerous other jurisdictions. Nokia and Microsoft continue to expect the transaction to close during April 2014, as communicated in our press release from March 24, 2014,” said the company in a statement.

Microsoft and Nokia said last month that the deal was expected to close in April, which is a little bit later than the Q1 goal. The delay was blamed on approvals pending from antitrust regulators in Asia. The deal is now expected to close within the next few weeks.

[Source]

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