Nokia Shareholders Agree To Microsoft Sale

The sale of Nokia's, (NOK) mobile phone business to Microsoft (MSFT) is to go ahead after shareholders at the Finnish company gave their support to the move.

It will now go through for 5.4 billion euros (£4.5 billion), although some investors raised concerns about the sale of the asset. Some 99.5 per cent of the votes were in favour of the deal.

Shareholder Hannu Ryyppo told the Reuters news agency that the deal will represent a "new beginning" for Nokia, adding: "Now it feels good again. This is a really good result."

Chairman Risto Siilasmaa suggested "deep feelings" would be raised among the Finnish public as a result of the deal. Nokia is one of the country's most successful companies.

The sale comes after Google bought Motorola as part of its move to dominate the mobile phone market via its popular Android operating system and devices such as the new Nexus 5.

Following the announcement, the share price of Nokia slipped in the early stages of trading today (November 20th). At 08:35 GMT, its stocks were 0.33 per cent down for the day.

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