Microsoft Nokia merger gets SA stamp of approval
The Competition Tribunal on Wednesday (19 February), approved, without conditions, the merger between Microsoft and handset maker, Nokia.
In September 2013 Microsoft announced its intention to acquire substantially all of Nokia’s devices and services business in what is viewed as an attempt by Microsoft to increase its offering in the mobile phone market.
The merger is an international transaction and has already been unconditionally approved in India, Brazil, the European Union, Israel, Turkey, Russia and the United States.
Under the terms of the agreement, Microsoft would pay EUR 3.79 billion to purchase substantially all of Nokia’s Devices & Services business, and EUR 1.65 billion to license Nokia’s patents, for a total transaction price of EUR 5.44 billion in cash.
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