Nokia's Interim President Timo Ihamuotila On Microsoft's Hand Set Purchase
Chief Financial Officer and interim president of Nokia (NYSE: NOK) Timo Ihamuotila discussed Microsoft's (NASDAQ: MSFT) purchase of their hand set end of the company for $7.2 billion on CNBC's Squawk Box Tuesday morning.
"We actually think that this transaction is a very satisfactory transaction for the Nokia shareholders. We are building a strong European technology company," said Ihamuotila.
"We will have strong finance opposition, improved earnings on the assets which will remain with Nokia, and we will have three businesses continuing each leader in their respective areas."
The companies expect to close the deal in the first quarter of 2014, which has struck up concerns about the fast movement of the transaction, despite their confidence that regulators will not object.
Ihamuotila noted that the Nokia feels that their earnings profile has improved, holding onto their mobile networks and related services (including mapping and navigation).
At the time of this writing, Jason Cunningham had no position with the mentioned entities.
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