Nokia stock surges 40 pct on Microsoft takeover (LasVegasSun)
The share price of Nokia Corporation (ADR) (NYSE:NOK) has surged 40 percent after Microsoft Corporation (NASDAQ:MSFT) said it would take over the Finnish firm’s smartphones, patents and services in a move to challenge to Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG). Nokia’s shares were up at 4.14 euros in early trading Tuesday in Helsinki. The 5.44 billion euros ($7.2 billion) deal announced late Monday marks a major step in Microsoft’s push to transform itself from a software maker focused on operating systems and applications for desktop and laptop computers into a more versatile company that delivers services on any kind of Internet-connected gadget.
Nokia to use $2 bn from Microsoft to pay off NSN financing over Siemens stake (FinancialExpress)
Finnish handset maker Nokia Corporation (ADR) (NYSE:NOK), which is selling its handset and services business to Microsoft Corporation (NASDAQ:MSFT), will borrow USD 1.97 billion from the US software giant to pay off loans taken to acquire the stake held by Siemens in their joint venture NSN (Nokia Systems and Networks). In connection with the deal, Microsoft had agreed to make 1.5 billion euros of financing available to Nokia in the form of three tranches of 500 million euro (USD 658.77 million) convertible bonds. The mobile phone maker has decided to draw down all the financing and will issue three tranches of senior unsecured convertible bonds, it said in a statement.
Nokia on a very strong footing in India: P. Balaji (MenaFN)
The sale of Nokia Oyj’s money-losing mobile handsets business to Microsoft Corporation (NASDAQ:MSFT) for 7.2 billion came as a surprise to many. Nokia Corporation (ADR) (NYSE:NOK) sold the mobile-phone business, an area that the Finnish company once dominated, after failing to respond to shifting customer preferences as they switched to Apple Inc. (NASDAQ:AAPL)’s iPhone and Google Inc (NASDAQ:GOOG)’s Android operating system. In an interview, Nokia India managing director P. Balaji explains how the company plans to regain its leadership position with the help of Microsoft. Balaji declined to speak on the acquisition as he was not authorized to comment on it. Edited excerpts: Where do you see Nokia India in the next 3-5 years?
We ask Nokia sales boss Chris Weber: “Sell me a Nokia” (Nokia)
Chris is Nokia Corporation (ADR) (NYSE:NOK)’s EVP for Sales and Marketing. Given last week’s news, he’s been spending a lot of time reaching out to distributors, operators, retailers and other partners to explain the changes. We asked him to explain it all to us. Nokia Conversations: We read in some blogs that Nokia is gone now? Chris Weber: That’s wrong in every way. For a start, the proposed deal for Microsoft Corporation (NASDAQ:MSFT) to acquire Nokia’s Devices and Services business won’t be fully confirmed until next year. For now, and for perhaps six months, it’s business as usual. New phones, support, apps – all of it. I can promise you, we have some fantastic stuff in the pipeline.