The EU Commission cleared Microsoft’s acquisition of Nokia

The European Commission cleared Nokia’s acquisition by Microsoft. According to the EU’s executive body, “the transaction would not raise any competition concerns, in particular because there are only modest overlaps between the parties' activities.”

Microsoft’s official acquisition of Nokia will see Nokia’s former CEO Stephen Elop return to Redmond as a head of an expanded Devices team. It will include Window Phone devices, Microsoft Surface, and Xbox gaming consoles.

The European Commission’s approval of the deal comes a day after the US Department of Justice gave it its own clearance. Nokia’s shareholders agreed to the transaction a couple of week ago – on November 19.

Source | Via