Earlier this year, Microsoft made official a deal to take over the mobile phone business of Nokia, and now the company has officially asked the European Commission to give approval for the acquisition.
The company has made it clear that it wants to acquire Nokia in order to expand its efforts in the mobile industry. And with the $7.49 billion deal already in place, the only hurdles remain final shareholder approval as well as go ahead for antitrust regulatory authorities.
Now according to this Reuters report, the European Commission will look into the acquisition and plans to announce a decision by December 4.
However, the deadline could be extended further by 10 working days, if need be.
Nokia’s shareholders are scheduled to convene sometime next month to decide on the deal. As for movement on the EU front, no official statements have been provided, but we should have more on this before the year is out.
As part of the deal, Stephen Elop, the former Nokia CEO will join Microsoft.
Insider sources have hinted that Elop is one of the contenders to take over from Steve Ballmer once he retires. And while Redmond is said to be looking at several names, Stephen Elop continues to be among the top candidates for the prestigious job.