Microsoft to acquire Nokia's mobile phones production for EUR 5,44 billion

Finish Nokia company has announced the sales of mobile telephony sector activities to an American IT giant Microsoft. The transaction totals EUR 5,44 billion.

As Reuters reports, in the future, the ex biggest mobile phones producer will focus on network development services.

According to the General Manager of Nokia, Risto Siilasmaa, the transaction is the best possible step into the future for Nokia and its shareholders.

In August this year, Nokia has finished a purchase of a 50% stake in Nokia Siemens Network which is specialized in fast networks (owned by Siemens), with an objective of further development of these activities which will in the future be of vital importance for the Finish company.

The transaction will end in the first half of the next year with an approval of shareholders while some 3.200 Nokia employees will move to Microsoft, some 4.700 of them in Finland.