On Monday, the merger between Microsoft and Nokia got another step to final approval, as the United States Department of Justice gave the merger the OK. The approval as expected came on November 29th, but wasn’t formally announced publicly until Monday, which should please many.
The multi billion dollar approval between the Redmond based giant and the Finnish Giant marks a giant step forward for the future of mobile technology. The approval which will give Microsoft Nokia’s mobile devices and services business is scheduled to formally close next year with European approval.
Shareholders Approve and Microsoft Happy
As the Nokia shareholders gave the final approval to the merger last month, the approval status between the two companies slowly makes it ways forward. The Indian authorities gave their formal approval to the merger last month, and the next step was waiting for the US Department of Justice to make their formal ruling.
In a statement released on Monday, Microsoft stated that they look forward to the date when their partners at Nokia will become members of the Microsoft family. They were also very pleased that the US Department of Justice was able to approve and clear the deal unconditionally, and without any conditions for this size of a merger.
Merger’s Next Steps
As the merger got the US Department of Justice’s final approval, the Microsoft and Nokia marriage now makes its way towards the European Union. The European Union has to review the deal, and make sure that it doesn’t violate any of the European Union competition rules. The opinion and final ruling was expected by December 4th, but could happen later.
The European Union generally takes a stronger look at these types of mergers, as larger companies merging with larger companies can create monopolies, which violate the EU policies. The $7.2 billion merger between Microsoft and Nokia’s devices and services business should clear by the first quarter of 2014. Hopefully, without any problems.
I loved this merger from the beginning and look forward to the future devices together. It will give Microsoft a great manufacturing and design team and great Windows Phones in the future.