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Nokia shareholders approve $7.2 billion Microsoft buyout

November 19th, 2013 at 8:41 AM
Nokia Microsoft Buyout Approved

It’s official: Nokia’s shareholders have signed off on the $7.2 billion acquisition of the company’s handset division by Microsoft. The Financial Times reports that 99.7% of the investors at a general meeting in Helsinki voted in favor of the deal. The investors who approved the deal hold nearly four-fifths of Nokia’s total shares. The meeting is expected to continue for quite some time, however, “as various small Finnish shareholders vent their anger over the deal” and Stephen Elop’s hefty payday. Ever since the deal was announced, Nokia has been on something of a rebound, surpassing Motorola to become the fourth-largest smartphone vendor in the U.S. and moving a record number of Lumia smartphones. Once the venting has ended and the meeting adjourns, Nokia will be one step closer to becoming a subsidiary of Microsoft.

Jacob started covering video games and technology in college as a hobby, but it quickly became clear to him that this was what he wanted to do for a living. He currently resides in New York writing for BGR. His previously published work can be found on TechHive, VentureBeat and Game Rant.

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