With Microsoft (MSFT +1.08%) looking to close its proposed acquisition of Nokia's devices and services business early next year, the pair have secured three seals of approval this week. The Department of Justice and Federal Trade Commission have cleared the deal in the U.S., while across the pond the European Commission has also signed off. Nokia shareholders already approved the deal last month, so this exchange continues to inch toward consummation.
Microsoft also sold $8 billion worth of debt this week, likely in part to raise funds for this purchase. The company said it plans to put the proceeds toward general corporate purposes, acquisitions, and repayment of existing debt. Microsoft has $2 billion worth of debt coming due next summer, so it is effectively refinancing some of its paper at lower rates.
In this segment of Tech Teardown, Erin Kennedy discusses Microsoft's mobile future with Evan Niu, CFA, our tech and telecom bureau chief.
