Nokia deal set to close this week, division to be known as Microsoft Mobile

Nokia has revealed it expects a deal selling its mobile devices business to Microsoft is likely to be closed this week.

In a statement to investors, the company reveals it has now received approval from most major regulators globally.

“[Nokia] expects the transaction whereby the company will sell substantially all of its Devices & Services business to Microsoft to close on April 25, 2014. The transaction is now subject only to certain customary closing conditions.”

In November, Nokia shareholders voted in favour of the $7.8 billion ($US7.2 billion) deal, which will see Microsoft license key Nokia patents and purchase the Finnish communications giants devices and mobile services businesses.

The deal will see Nokia retail its NSN network equipment, HERE Maps and advanced R&D businesses.

Nokia has already told investors it is delaying the publication of its first quarter financial statements until April 29, after the sale is complete, with the company issuing investors with an updated financial calendar for 2014.

According to a letter to suppliers obtained by Nokia Power User, the division will officially be known as Microsoft Mobile after the deal closes.

“Please note that upon the close of the transaction between Microsoft and Nokia, the name of Nokia Corporation/Nokia Oyj will change to Microsoft Mobile Oy,” the letter states.

“Microsoft Mobile Oy is the legal entity name that should be used for VAT IDs and for the issuance of invoices.

“Please note that the only changes in the Purchase Order (PO) layout after the close of the transaction will be to remove the Nokia Logo and change the legal address, whereas the PO numbering format and sequence will not change.”

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