Nokia Shareholders Approve Sale To Microsoft

mrspoonsi writes "Nokia shareholders met today at an extraordinary general meeting (EGM) to vote on whether or not to accept the terms of the company's proposed sale of its devices and services business to Microsoft. The deal, which was first announced in September, is worth €5.44bn EUR ($7.35bn USD / £4.57bn GBP), and also includes provisions for Microsoft to license patents from the Finnish company. 78% of those eligible to vote had already voted before the EGM. Of those early votes, a staggering 99% had voted in favour of the sale to Microsoft."

Comments

Not so staggering.

[intermodal]

I understand the journalistic desire to phrase things dramatically, but there is nothing staggering about a struggling company accepting a buyout from a company with a perceived strong market position.

Re:Their only chance

[Kjella]

I think Nokia is barely breaking even in a booming market, they're not quite ready for bankruptcy court even if they're becoming a more and more marginal player. But at this point, yeah I'd vote for Microsoft because what alternative is there at this point? None at all.

Re:Increasingly irrelevant tech dinosaur..

[somersault]

Anyone who has been paying attention knows that Nokia has been "owned" by MS for a while now though, so this news really just isn't surprising in any way. And it doesn't seem like it will benefit anyone other than Nokia shareholders looking to cash out.