Nokia’s (NYSE: NOK) Stock Price Up On Microsoft Deal
The share price of Nokia surged by 47 per cent in the Helsinki Stock market Tuesday, after it announced to sell its mobiles and services devision to Microsoft.
Before dawn Tuesday, the Finland-based mobile giant announced that it had signed an agreement with Microsoft (NASDAQ:MSFT) to sell the devices and services business and licence its patents to the latter for 5.44 billion euros.
The transaction is expected to be completed in Q-2 of Y 2014, Nokia said
The news triggered a positive react in Finland.
Immediately after the opening of the stock exchange market in Helsinki at 10 a local time, Nokia’ s share price surged by 47% from 2.96 euros to 4.33 euros.
One of the reports published by the Finnish Broadcasting Company Yle was titled ‘End of an era’ , while comforting Fins by confirming the headquarters of Nokia will remain in Espoo, Finland.
After the transaction, Nokia plans to focus on infrastructure, mapping and licensing, mainly taking care of the network of NSN, location software of HERE, and Advanced Technologies.
Nokia CEO Stephen Elop will return to Microsoft, and Risto Siilasmaa, the founder of F-Secure security softwares, will lead the company in the transition period.
Some 32,000 workers will be transferred to Microsoft, with 4,700 of them located in Finland, according to Yle.
|LTNs Analysis for NOK:||Overall||Short||Intermediate||Long|
|Bullish (0.41)||Bullish (0.38)||Bullish (0.43)||Bullish (0.42)|
Latest posts by Paul Ebeling (see all)
- Technical Analysis: DJIA - July 24, 2014
- Technical Anaylsis: US Coffee - July 24, 2014
- Technical Analysis: WTI Crude Oil - July 24, 2014
- Technical Analysis: Spot Gold And Spot Silver - July 24, 2014
- Washington State Not Sure About Gourmet Marijuana Products - July 24, 2014
Leave a Reply
You must be logged in to post a comment.
The Female Health Company (NASDAQ-CM: FHCO), today announced that it ... read more
USDSGD Singapore Dollar Outlook FOREX SGD= closed up 0.001 at ... read more
Technical Analysis: Spot Gold And Spot Silver Spot Gold Spot ... read more
Mercedes Formula One Chief, Toto Wolff Injusred In Cycling Accident ... read more