Newsbrief by Andrew Kameka on Tuesday April 08, 2014.
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China's Ministry of Commerce has approved Nokia's sale of its Devices & Services business to Microsoft. China is the latest regulator to approve the transaction, a process that took longer than expected because of approval issues in some parts of Asia. Microsoft and Nokia must still close the deal once all the necessary approvals are obtained, but Nokia anticipates the $7.2 billion deal being finalized at some point this month. Once completed, Nokia's handset division, product pipeline, and manufacturing assets will be run by former CEO and current Microsoft executive Stephen Elop.source: Nokia