ESPOO (dpa-AFX) - Mobile devices and networks firm Nokia Corp. (NOK) announced Monday that it expects the transaction whereby the company will sell substantially all of its Devices & Services business to Microsoft Corp. (MSFT) to close on April 25, 2014. The transaction is now subject only to certain customary closing conditions.
In September 2013, Nokia agreed to sell substantially all the Devices & Services business to Microsoft for a total cost of 5.44 billion euros in cash. The deal also included license for Nokia's patents and license. As per the terms of the agreement, Microsoft would pay 3.79 billion euros to buy substantially all of Nokia's Devices & Services business, and 1.65 billion euros to license Nokia's patents.
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