SUMMARY
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Nokia shareholders voted Tuesday, November 19, overwhelmingly in favor of selling the company’s mobile business to US software giant Microsoft in an attempt to reinvent the once-proud Finnish telecoms titan. According to Nokia – which will now become a telecom equipment and services company – the deal was almost unanimously approved (99.7 percent) by a majority of shareholders voting ahead of an extraordinary meeting in Helsinki. Nokia’s share price has doubled since the plan was announced in early September with Microsoft agreeing to pay 5.44 billion euro ($7.35 billion) for the loss-making company’s mobile phone division. The sale of the assets, which include the Lumia smartphone trademark and technology, must take place in early 2014.
Read the full story on Rappler.
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