Nokia expects Microsoft deal to close in week

Nokia expects the sale of its handset business to Microsoft to be finalized on Friday. After seven months, Microsoft announced the closure of the 7.5 billion U.S. dollar deal, which had been delayed due to pending approvals. This move will help Nokia “accelerate innovation and market adoption” for Windows Phones, the large majority of which are produced by it, according to Microsoft. In 2013, Microsoft announced that it had purchased substantially all of Nokia’s devices and services business for 5.2 billion U.S. dollars. The tech giant will also shell out another 2.18 billion U.S. dollars to Nokia license company’s patent and mapping services, for a total transaction price of 7.2 billion U.S. dollar in cash.