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NewsPoster Dec 4, 2013 02:09 PM
European reulgator approves Microsoft's purchase of Nokia hardware arm
Microsoft has been given the all-clear to acquire Nokia's <a href=" y/" rel='nofollow'>mobile phone business</a> by the European Commission (EC). The <a href="" rel='nofollow'>clearance</a> by the regulatory body comes just one day after the <a href="" rel='nofollow'>US Department of Justice</a> approved the deal, two weeks after <a href="" rel='nofollow'>Nokia's shareholders</a> made a similar decision, leaving little in the way of obstructions left for the $7.2 billion deal. <br />
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The EC's report finds that the two companies minimally overlap in the field of smartphones and tablets, and that "several strong rivals, such as Samsung and Apple will continue to compete with the merged entity." Investigations into a number of "vertical relationships" between Nokia and Microsoft also found that there would be little in the way of issues, though it intends to "remain vigilant and closely monitor Nokia's post-merger licensing practices under EU antitrust rules." <br />
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<div align='center'><img src='' style='max-width: 100%;' alt='Nokia Lumia 2520' border='0' pagespeed_url_hash="28875437"/><br/><span class='minor2'><a href="" rel='nofollow'>Nokia Lumia 2520</a></span></div><br />
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The transaction, which will see 32,000 Nokia employees and the Devices and Services arm being handed over to Microsoft, along with ten-year licenses for parts of Nokia's patent portfolio and branding, is expected to complete in the first quarter of 2014.
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