China approves the Nokia – Microsoft deal!

The 7.2 billion dollar deal between Nokia and Microsoft will finally get to an end. The Chinese government has given its approval so they're deal between these two giants is now legal and official. Microsoft will most probably announce it by the end of April.

Acquiring a telecommunication giant is not as easy as buying candy. There is a small matter regarding competition authorities which must check if a deal of this kind will not affect market conditions. Microsoft and Nokia had the approval of most commissions, except from China. The Finnish electronic manufacturer confirmed it got the approval today. “Nokia and Microsoft have now received regulatory approvals from the People's Republic of China, the European Commission, the US Department of Justice and numerous other jurisdictions,” Nokia stated.

The official confirmation booster Nokia's stock by three percent from 5.31 to 5.47 euros in Helsinki. Everyone expects now Microsoft to make the deal official and it seems the American company will do this by the end of April. The bond between Microsoft and Nokia changes a bit both companies. 

Nokia has been struggling for a while to get back on track. The Finnish mobile phone manufacturer, once a global leader, has steadily lost clients and even the partnership with Microsoft and the introduction of Mobile Phone OS failed to restore Nokia's fortunes. However, Microsoft can really pump money into new technologies and take Nokia back to a top spot.