EU approves Microsoft’s Nokia acquisition
Very soon, Nokia’s smartphone business will become a part of Microsoft. The deal’s been in the works for months now, with plans to finalize things in the early days of 2014. Recently, the process has led to us discussing the regulatory approval Microsoft and Nokia would need in order to move forward. On the US side, we just shared news with you earlier this week about the FTC giving the deal its blessing, leaving the issue of the European Union to give its own go-ahead. While we had heard rumors suggesting that EU approval was essentially assured, there still wasn’t any official ruling on the matter. That finally comes though for us today, as the EU gives Microsoft and Nokia permission to proceed.
In a statement, the executive body announced that it has “concluded that the transaction would not raise any competition concerns, in particular because there are only modest overlaps between the parties’ activities and the links between Microsoft’s mobile operating systems, mobile applications and enterprise mail server software with Nokia’s smart mobile devices are unlikely to lead to competitors being shut out from the market.”
Microsoft expressed its satisfaction with the ruling, noting in particular how pleased it was to see it go through without the addition of any conditions from the EU.