Nokia approves Microsoft deal, employees protest in China
Nokia shareholders have approved the deal with Microsoft
99.7% of all Nokia shareholders who participated in yesterday’s meeting agreed with the Microsoft sale, representing four / fifths of all Nokia shares. That means the deal is officially approved and it is a subject to other formal approvals and regulations which should be completed in Q1 2014. Nokia agrees to sell its Device unit for $7.2 billion alongside the Lumia and Asha brands. Microsoft can use the Nokia branding in its feature phones, but not in smartphones. After the deal is completed, Nokia is focusing on its other businesses like building LTE networks and creating mapping and other software solutions.
At the meeting held yesterday, some shareholders were reportedly upset over the acquisition, but they however were not able to stop the approval. Meanwhile in Nokia’s factory in China, employees protested outside the factory against Nokia / Microsoft deal. It seems that the employees are not so happy and they want some compensation. The employees carried posters saying: “Do not sell us, we have dignity and human rights”. Nokia China has issued a statement confirming the protests, but the company promised the operations are not affected.
At present, it is unclear how Microsoft is going to integrate Lumia and Asha brands into its internal structure. Microsoft could unite Asha and Lumia under its Surface device brand, or continue to develop them as separate brands. However, the company hasn’t revealed its plans yet, but that’s understandable since the deal is not completed. One is sure, former Nokia CEO Stephen Elop is returning to Microsoft next year managing the expanded Devices and Services team. Other important parts of Microsoft’s future could be Alan Mulally, Tony Bates and Satya Nadella.
Sources: The Verge, Unwiredview