Microsoft sought an approval from the European Commission to take over Nokia's phone business in USD7.49 billion deal.
A Bloomberg report revealed that Microsoft's acquisition of Nokia Oyj's handset business allowed the latter to purchase the wireless network equipment business of Alcatel-Lucent.
After Microsoft announce the purchase of its handset business, the unveiling of the newest smartphone from Nokia is a watershed event for the future of the company.
Microsoft Corp had been acquiring and investing in companies in the last two decades as the software maker planned to accelerate its presence in a market that it does not own.
Reuters Factbox showed Microsoft's acquisitions and investments over the years had not been very lucrative for the company.
Nokia had its focus redirected on network equipment manufacturing after it sold its handset units to Microsoft Corp.
Nokia could boost its royalties as the Finnish phone maker gripped on its valuable patent portfolio.
Following the announced sale of Nokia to Microsoft Corp, BlackBerry shares jumped to as much as 3.6% last Tuesday.
According to an investigative report by the Huffington Post, Microsoft Corp would be dipping into its USD60 billion offshore holdings to finance its Nokia handset business acquisition in cash.
The announcement of Nokia selling its handset unit to Microsoft Corp. had left hedge funds rushing to unwind their bets, leaving the Finnish company to score a record gain per day.
Microsoft said it would be buying the handset business of Finnish company Nokia for EUR5.44 billion or USD7.2 billion, with Nokia CEO Elop and other senior executives transferring to the American multinational software firm.
Although Nokia's restructuring efforts kept it financially afloat, Moody's predicted a wavering position for the Finnish company in the smartphone market.
Reports said Nokia would roll out a tablet powered by Windows RT next month.
A report from Digitimes said HTC would most likely "drift away" from Windows Phone so that it could focus on its Android smartphones.
Marco Argenti, head of developer relations in Nokia, announced that he left Nokia for a job at Amazon's Web Service Business.
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