Wed, Sep 04, 2013 - Page 15 News List

Microsoft to buy Nokia phone business

BOLD GAMBIT:Opinion is split on whether Steve Ballmer’s decision to thrust Microsoft deeper into the highly competitive, lower-margin mobile devices arena is a sound move

Reuters, HELSINKI and SEATTLE

“Bringing these great teams together will accelerate Microsoft’s share and profits in phones and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services,” he said.

Nokia said in a statement it expected that, apart from Elop, senior executives Jo Harlow, Juha Putkiranta, Timo Toikkanen and Chris Weber would transfer to Microsoft when the deal is concluded. It did not say what roles they would take there.

Nokia board chairman Risto Siilasmaa would take over CEO duties, while the Finnish firm looked for a new CEO, it said.

The deal is expected to close in the first quarter of next year, subject to approval by Nokia shareholders and regulators.

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