Microsoft to buy Nokia for USD7 b

(MENAFN) Microsoft has announced its plan to purchase the Finland-based Nokia for about USD7.47 billion after the European Commission approval, according to Arab News. The Commission said that the acquisition does "not raise any competition concerns, in particular because there are only modest overlaps between" the two firms. It added the combine between the two giant companies will pose a threat for competitors as the two parties have unique and smart activities and devices.