{"id":2042,"date":"2013-09-03T09:37:48","date_gmt":"2013-09-03T07:37:48","guid":{"rendered":"http:\/\/www.planet3dnow.de\/cms\/?p=2042"},"modified":"2014-02-22T22:05:35","modified_gmt":"2014-02-22T21:05:35","slug":"nokia-to-sell-devices-services-business-to-microsoft-in-eur-5-44-billion-all-cash-transaction","status":"publish","type":"post","link":"https:\/\/www.planet3dnow.de\/cms\/2042-nokia-to-sell-devices-services-business-to-microsoft-in-eur-5-44-billion-all-cash-transaction\/","title":{"rendered":"Nokia to sell Devices <span class=\"amp\">&amp;<\/span> Services business to Microsoft in <span class=\"caps\">EUR<\/span> 5.44 billion all-cash transaction"},"content":{"rendered":"<div id=\"stcpDiv\">\n<div>Nokia Cor\u00adpo\u00adra\u00adti\u00adon<\/div>\n<div>\n<div>\n<div>\n<p>Stock Exch\u00adan\u00adge Release<br>\nSep\u00adtem\u00adber 3, 2013 at 06.00 (<span class=\"caps\">CET<\/span> +1)<\/p>\n<ul type=\"disc\">\n<li>\n<div>Tran\u00adsac\u00adtion expec\u00adted to be signi\u00adfi\u00adcant\u00adly accre\u00adti\u00adve to Nokia earnings.<\/div>\n<\/li>\n<li>\n<div>Nokia con\u00adti\u00adnues to deve\u00adlop, and sees signi\u00adfi\u00adcant value in, advan\u00adced tech\u00adno\u00adlo\u00adgies, its patent port\u00adfo\u00adlio and Nokia&nbsp;brand.<\/div>\n<\/li>\n<li>\n<div>Nokia focu\u00adsing on <span class=\"caps\">NSN<\/span>, <span class=\"caps\">HERE<\/span> and Advan\u00adced Tech\u00adno\u00adlo\u00adgies post-tran\u00adsac\u00adtion. Each busi\u00adness a lea\u00adding play\u00ader in its respec\u00adti\u00adve segment.<\/div>\n<\/li>\n<li>\n<div>Nokia out\u00adlines chan\u00adges to lea\u00adder\u00adship and Board of Directors.<\/div>\n<\/li>\n<\/ul>\n<p><span class=\"caps\">ESPOO<\/span>, Fin\u00adland \u2014 Nokia Cor\u00adpo\u00adra\u00adti\u00adon today announ\u00adced that it has signed an agree\u00adment to enter into a tran\u00adsac\u00adtion wher\u00adeby Nokia will sell sub\u00adstan\u00adti\u00adal\u00adly all of its Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices busi\u00adness and licence its patents to Micro\u00adsoft for <span class=\"caps\">EUR<\/span> 5.44 bil\u00adli\u00adon in cash, paya\u00adble at clo\u00adsing. Nokia expects to book a gain on sale of appro\u00adxi\u00adm\u00adate\u00adly <span class=\"caps\">EUR<\/span> 3.2 bil\u00adli\u00adon, and expects the tran\u00adsac\u00adtion to be signi\u00adfi\u00adcant\u00adly accre\u00adti\u00adve to earnings.<\/p>\n<p>The tran\u00adsac\u00adtion is expec\u00adted to clo\u00adse in the first quar\u00adter of 2014, sub\u00adject to appr\u00adoval by Nokia share\u00adhol\u00adders, regu\u00adla\u00adto\u00adry appr\u00adovals and other cus\u00adto\u00adma\u00adry clo\u00adsing conditions.<\/p>\n<p>Fol\u00adlo\u00adwing the tran\u00adsac\u00adtion, Nokia plans to focus on its three estab\u00adlished busi\u00adnesses, each of which is a lea\u00adder in enab\u00adling mobi\u00adli\u00adty in its respec\u00adti\u00adve mar\u00adket seg\u00adment: <span class=\"caps\">NSN<\/span>, a lea\u00adder in net\u00adwork infra\u00adstruc\u00adtu\u00adre and ser\u00advices; <span class=\"caps\">HERE<\/span>, a lea\u00adder in map\u00adping and loca\u00adti\u00adon ser\u00advices; and Advan\u00adced Tech\u00adno\u00adlo\u00adgies, a lea\u00adder in tech\u00adno\u00adlo\u00adgy deve\u00adlo\u00adp\u00adment and licen\u00adsing. At clo\u00adsing, this tran\u00adsac\u00adtion is expec\u00adted to streng\u00adthen Nokia\u2019s finan\u00adcial posi\u00adti\u00adon and pro\u00advi\u00adde a solid basis for future invest\u00adment in the\u00adse three businesses.<\/p>\n<p><span class=\"dquo\">\u201c<\/span>After a tho\u00adrough assess\u00adment of how to maxi\u00admi\u00adze share\u00adhol\u00adder value, inclu\u00adding con\u00adside\u00adra\u00adti\u00adon of a varie\u00adty of alter\u00adna\u00adti\u00adves, we belie\u00adve this tran\u00adsac\u00adtion is the best path for\u00adward for Nokia and its share\u00adhol\u00adders,\u201d said Ris\u00adto Sii\u00adlas\u00admaa, Chair\u00adman of the Nokia Board of Direc\u00adtors and, fol\u00adlo\u00adwing today\u2019s announce\u00adment, also Nokia inte\u00adrim&nbsp;<span class=\"caps\">CEO<\/span>.<\/p>\n<p><strong>Deal Terms<\/strong><\/p>\n<p>Sub\u00adject to the clo\u00adsing of the tran\u00adsac\u00adtion, Micro\u00adsoft will acqui\u00adre sub\u00adstan\u00adti\u00adal\u00adly all of Nokia\u2019s Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices busi\u00adness, inclu\u00adding the Mobi\u00adle Pho\u00adnes and Smart Devices busi\u00adness units as well as an indus\u00adtry-lea\u00adding design team, ope\u00adra\u00adti\u00adons inclu\u00adding all Nokia Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices pro\u00adduc\u00adtion faci\u00adli\u00adties, Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices-rela\u00adted sales and mar\u00adke\u00adting acti\u00advi\u00adties, and rela\u00adted sup\u00adport func\u00adtions. At clo\u00adsing, appro\u00adxi\u00adm\u00adate\u00adly 32,000 peo\u00adp\u00adle are expec\u00adted to trans\u00adfer to Micro\u00adsoft, inclu\u00adding appro\u00adxi\u00adm\u00adate\u00adly 4,700 peo\u00adp\u00adle in Fin\u00adland. Nokia\u2019s <span class=\"caps\">CTO<\/span> (Chief Tech\u00adno\u00adlo\u00adgy Office) orga\u00adniza\u00adti\u00adon and patent port\u00adfo\u00adlio will remain within the Nokia Group. The ope\u00adra\u00adti\u00adons that are plan\u00adned to be trans\u00adfer\u00adred to Micro\u00adsoft gene\u00adra\u00adted an esti\u00adma\u00adted <span class=\"caps\">EUR<\/span> 14.9 bil\u00adli\u00adon, or almost 50%, of Nokia\u2019s net sales for the full year&nbsp;2012.<\/p>\n<p>As part of the tran\u00adsac\u00adtion, Nokia will grant Micro\u00adsoft a 10 year non-exclu\u00adsi\u00adve licen\u00adse to its patents as of the time of the clo\u00adsing, and Micro\u00adsoft will grant Nokia recipro\u00adcal rights rela\u00adted to <span class=\"caps\">HERE<\/span> ser\u00advices. In addi\u00adti\u00adon, Nokia will grant Micro\u00adsoft an opti\u00adon to extend this mutu\u00adal patent agree\u00adment to per\u00adp\u00adetui\u00adty. Of the total purcha\u00adse pri\u00adce of <span class=\"caps\">EUR<\/span> 5.44 bil\u00adli\u00adon, <span class=\"caps\">EUR<\/span> 3.79 bil\u00adli\u00adon rela\u00adtes to the purcha\u00adse of sub\u00adstan\u00adti\u00adal\u00adly all of the Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices busi\u00adness, and <span class=\"caps\">EUR<\/span> 1.65 bil\u00adli\u00adon rela\u00adtes to the mutu\u00adal patent agree\u00adment and future option.<\/p>\n<p>Addi\u00adtio\u00adnal\u00adly, Micro\u00adsoft will beco\u00adme a stra\u00adte\u00adgic licen\u00adsee of the <span class=\"caps\">HERE<\/span> plat\u00adform, and will sepa\u00adra\u00adte\u00adly pay Nokia for a four year licen\u00adse. This reve\u00adnue stream is expec\u00adted to sub\u00adstan\u00adti\u00adal\u00adly replace the reve\u00adnue stream <span class=\"caps\">HERE<\/span> is curr\u00adent\u00adly recei\u00adving from Nokia\u2019s Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices busi\u00adness intern\u00adal\u00adly. If the tran\u00adsac\u00adtion clo\u00adses Micro\u00adsoft is expec\u00adted to beco\u00adme one of the top three cus\u00adto\u00admers of&nbsp;<span class=\"caps\">HERE<\/span>.<\/p>\n<p>Micro\u00adsoft has agreed to make imme\u00addia\u00adte\u00adly available to Nokia <span class=\"caps\">EUR<\/span> 1.5 bil\u00adli\u00adon of finan\u00adcing in the form of three <span class=\"caps\">EUR<\/span> 500 mil\u00adli\u00adon tran\u00adches of con\u00adver\u00adti\u00adble bonds to be issued by Nokia matu\u00adring in 5, 6 and 7 years respec\u00adtively. It is at Nokia\u2019s dis\u00adcre\u00adti\u00adon if it choo\u00adses to draw down all or some of the\u00adse tran\u00adches. The finan\u00adcing is not con\u00addi\u00adtio\u00adnal on the tran\u00adsac\u00adtion clo\u00adsing. If the tran\u00adsac\u00adtion clo\u00adses, any out\u00adstan\u00adding bonds will be rede\u00ade\u00admed and net\u00adted against the deal pro\u00adceeds by the amount of prin\u00adci\u00adpal and accrued interest.<\/p>\n<p>The fol\u00adlo\u00adwing are the key terms of the three tran\u00adches of bonds Nokia may choo\u00adse to&nbsp;issue:<\/p>\n<ul type=\"disc\">\n<li>\n<div>The first tran\u00adche matures in 5 years and has a 1.125% per annum cou\u00adpon paya\u00adble semi-annu\u00adal\u00adly with an initi\u00adal con\u00adver\u00adsi\u00adon pri\u00adce of <span class=\"caps\">EUR<\/span> 3.9338.<\/div>\n<\/li>\n<li>\n<div>The second tran\u00adche matures in 6 years and has a 2.5% per annum cou\u00adpon paya\u00adble semi-annu\u00adal\u00adly with an initi\u00adal con\u00adver\u00adsi\u00adon pri\u00adce of <span class=\"caps\">EUR<\/span> 4.0851.<\/div>\n<\/li>\n<li>\n<div>The third tran\u00adche matures in 7 years and has a 3.625% per annum cou\u00adpon paya\u00adble semi-annu\u00adal\u00adly with an initi\u00adal con\u00adver\u00adsi\u00adon pri\u00adce of <span class=\"caps\">EUR<\/span> 4.2364.<\/div>\n<\/li>\n<\/ul>\n<p>The Board of Direc\u00adtors of Nokia will sepa\u00adra\u00adte\u00adly assess whe\u00adther to draw down some or all of this finan\u00adcing. If Nokia would deci\u00adde to uti\u00adli\u00adze this finan\u00adcing opti\u00adon, the ear\u00adliest that Micro\u00adsoft could con\u00advert any of the\u00adse bonds to shares is two years from draw&nbsp;down.<\/p>\n<p>Micro\u00adsoft has agreed to a 10 year licen\u00adse arran\u00adge\u00adment with Nokia to use the Nokia brand on cur\u00adrent Mobi\u00adle Pho\u00adnes pro\u00adducts. Nokia will con\u00adti\u00adnue to own and main\u00adtain the Nokia brand.&nbsp; Under the terms of the tran\u00adsac\u00adtion, Micro\u00adsoft has agreed to a 10 year licen\u00adse arran\u00adge\u00adment with Nokia to use the Nokia brand on cur\u00adrent and sub\u00adse\u00adquent\u00adly deve\u00adlo\u00adped pro\u00adducts based on the Series 30 and Series 40 ope\u00adra\u00adting sys\u00adtems.&nbsp; Upon the clo\u00adsing of the tran\u00adsac\u00adtion, Nokia would be rest\u00adric\u00adted from licen\u00adsing the Nokia brand for use in con\u00adnec\u00adtion with mobi\u00adle device sales for 30 months and from using the Nokia brand on Nokia\u2019s own mobi\u00adle devices until Decem\u00adber 31,&nbsp;2015.<\/p>\n<p>The tran\u00adsac\u00adtion is sub\u00adject to poten\u00adti\u00adal purcha\u00adse pri\u00adce adjus\u00adt\u00adments, pro\u00adtec\u00adting both Nokia and Micro\u00adsoft, and a <span class=\"caps\">USD<\/span> 750 mil\u00adli\u00adon ter\u00admi\u00adna\u00adti\u00adon fee paya\u00adble by Micro\u00adsoft to Nokia in the event that the tran\u00adsac\u00adtion fails to recei\u00adve neces\u00adsa\u00adry regu\u00adla\u00adto\u00adry clearances.<\/p>\n<p><strong>Buil\u00adding Nokia\u2019s next chapter<\/strong><\/p>\n<p>Fol\u00adlo\u00adwing the tran\u00adsac\u00adtion, Nokia plans to focus on its three estab\u00adlished busi\u00adnesses, each of which is a lea\u00adder in enab\u00adling mobi\u00adli\u00adty in its respec\u00adti\u00adve mar\u00adket seg\u00adment: <span class=\"caps\">NSN<\/span>, a lea\u00adder in net\u00adwork infra\u00adstruc\u00adtu\u00adre and ser\u00advices; <span class=\"caps\">HERE<\/span>, a lea\u00adder in map\u00adping and loca\u00adti\u00adon ser\u00advices; and Advan\u00adced Tech\u00adno\u00adlo\u00adgies, a lea\u00adder in tech\u00adno\u00adlo\u00adgy deve\u00adlo\u00adp\u00adment and licensing.<\/p>\n<p>Nokia will retain its head\u00adquar\u00adters in Fin\u00adland. Exclu\u00adding the appro\u00adxi\u00adm\u00adate\u00adly 32,000 peo\u00adp\u00adle plan\u00adned to trans\u00adfer to Micro\u00adsoft, Nokia would have employ\u00aded appro\u00adxi\u00adm\u00adate\u00adly 56,000 peo\u00adp\u00adle at the end of the second quar\u00adter&nbsp;2013.<\/p>\n<p><span class=\"dquo\">\u201c<\/span>Today is an important moment of chan\u00adge and reinven\u00adti\u00adon for Nokia and its employees,\u201d said Nokia Chair\u00adman and inte\u00adrim <span class=\"caps\">CEO<\/span> Mr. Sii\u00adlas\u00admaa. \u201cWith our strong cor\u00adpo\u00adra\u00adte iden\u00adti\u00adty, lea\u00adding assets and talent, and from a posi\u00adti\u00adon of rene\u00adwed finan\u00adcial strength, we will build Nokia\u2019s next chapter.\u201d<\/p>\n<p><span class=\"caps\">NSN<\/span>, a whol\u00adly-owned busi\u00adness of Nokia sin\u00adce August 2013, is a lea\u00adder in mobi\u00adle broad\u00adband, and is focu\u00adsed on ope\u00adra\u00adting at the fore\u00adfront of each gene\u00adra\u00adti\u00adon of mobi\u00adle tech\u00adno\u00adlo\u00adgy, inclu\u00adding pushing the boun\u00adda\u00adries of con\u00adnec\u00adting peo\u00adp\u00adle through <span class=\"caps\">LTE<\/span> and future tech\u00adno\u00adlo\u00adgies. Nokia con\u00adti\u00adnues to mana\u00adge <span class=\"caps\">NSN<\/span> as a strong, inde\u00adpen\u00addent entity.<\/p>\n<p><span class=\"caps\">HERE<\/span> will con\u00adti\u00adnue to focus on gro\u00adwing its indus\u00adtry-lea\u00adding posi\u00adti\u00adon through a broad loca\u00adti\u00adon offe\u00adring across mobi\u00adle devices, con\u00adnec\u00adted devices, enter\u00adpri\u00adse solu\u00adti\u00adons and the auto\u00admo\u00adti\u00adve envi\u00adron\u00adment. <span class=\"caps\">HERE<\/span> will con\u00adti\u00adnue to exe\u00adcu\u00adte its stra\u00adtegy to beco\u00adme the lea\u00adding inde\u00adpen\u00addent loca\u00adti\u00adon cloud plat\u00adform com\u00adpa\u00adny, offe\u00adring map\u00adping and loca\u00adti\u00adon ser\u00advices across dif\u00adfe\u00adrent screens and ope\u00adra\u00adting systems.<\/p>\n<p>Our Advan\u00adced Tech\u00adno\u00adlo\u00adgies busi\u00adness will build on seve\u00adral of Nokia\u2019s cur\u00adrent <span class=\"caps\">CTO<\/span> and Intellec\u00adtu\u00adal Pro\u00adper\u00adty Rights activities.Advanced Tech\u00adno\u00adlo\u00adgies will explo\u00adre new busi\u00adness oppor\u00adtu\u00adni\u00adties through advan\u00adced rese\u00adarch, deve\u00adlo\u00adp\u00adment and con\u00adcept pro\u00adducts in are\u00adas such as con\u00adnec\u00adti\u00advi\u00adty, sens\u00ading and mate\u00adri\u00adal tech\u00adno\u00adlo\u00adgies, as well as web and cloud tech\u00adno\u00adlo\u00adgies. At the same time, Advan\u00adced Tech\u00adno\u00adlo\u00adgies plans to con\u00adti\u00adnue to build Nokia\u2019s patent port\u00adfo\u00adlio from this inno\u00adva\u00adti\u00adon and tar\u00adgets to expand its indus\u00adtry-lea\u00adding tech\u00adno\u00adlo\u00adgy licen\u00adsing pro\u00adgram, span\u00adning tech\u00adno\u00adlo\u00adgies that enable mobi\u00adli\u00adty today and tomorrow.<\/p>\n<p><span class=\"dquo\">\u201c<\/span>Fol\u00adlo\u00adwing this tran\u00adsac\u00adtion, Nokia\u2019s finan\u00adcial situa\u00adti\u00adon is expec\u00adted to be signi\u00adfi\u00adcant\u00adly stron\u00adger and its ear\u00adnings pro\u00adfi\u00adle signi\u00adfi\u00adcant\u00adly impro\u00adved,\u201d said Nokia <span class=\"caps\">CFO<\/span> and inte\u00adrim Pre\u00adsi\u00addent Timo Iha\u00admuoti\u00adla. \u201cWe will have three well-posi\u00adtio\u00adned busi\u00adnesses, each a lea\u00adder in its mar\u00adket. Over\u00adall, we will con\u00adti\u00adnue to focus on mana\u00adging and maxi\u00admi\u00adzing the assets of Nokia Group pru\u00addent\u00adly and prag\u00adma\u00adti\u00adcal\u00adly to crea\u00adte value for Nokia shareholders.\u201d<\/p>\n<p><strong>His\u00adto\u00adri\u00adcal pro for\u00adma infor\u00adma\u00adti\u00adon and stra\u00adte\u00adgic evaluation<\/strong><\/p>\n<p>This tran\u00adsac\u00adtion is expec\u00adted to be signi\u00adfi\u00adcant\u00adly accre\u00adti\u00adve to Nokia ear\u00adnings. In the first half 2013, Nokia Group net sales were <span class=\"caps\">EUR<\/span> 11.5 bil\u00adli\u00adon and non-IFRS ope\u00adra\u00adting mar\u00adgin was 4.2%. On a pro for\u00adma basis assum\u00ading this tran\u00adsac\u00adtion would have clo\u00adsed, Nokia Group net sales would have been <span class=\"caps\">EUR<\/span> 6.3 bil\u00adli\u00adon and non-IFRS ope\u00adra\u00adting mar\u00adgin would have been 12.1% in the first half&nbsp;2013.<\/p>\n<table>\n<thead>\n<tr>\n<td colspan=\"9\" valign=\"top\"><strong><span class=\"caps\">PREVIOUSLY<\/span> <span class=\"caps\">PUBLISHED<\/span> <span class=\"caps\">AND<\/span> <span class=\"caps\">PRO<\/span> <span class=\"caps\">FORMA<\/span> <span class=\"caps\">INFORMATION<\/span><\/strong><\/td>\n<\/tr>\n<tr>\n<td rowspan=\"3\" valign=\"top\"><\/td>\n<td colspan=\"2\" align=\"center\"><strong>Nokia<br>\n<span class=\"caps\">GROUP<\/span>&nbsp;<\/strong><br>\n<strong>as pre\u00advious\u00adly published<\/strong><\/td>\n<td colspan=\"2\" align=\"center\"><strong>Con\u00adti\u00adnuing Operations<\/strong><br>\n<strong>pro for\u00adma<\/strong><\/td>\n<td colspan=\"2\" align=\"center\"><strong>Nokia<br>\n<span class=\"caps\">GROUP<\/span>&nbsp;<\/strong><br>\n<strong>as pre\u00advious\u00adly published<\/strong><\/td>\n<td colspan=\"2\" align=\"center\"><strong>Con\u00adti\u00adnuing<br>\nOperations<br>\npro&nbsp;forma<\/strong><\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\"><strong>Non-IFRS<\/strong><\/td>\n<td valign=\"bottom\"><strong>Repor\u00adted<\/strong><\/td>\n<td valign=\"bottom\"><strong>Non-IFRS<\/strong><\/td>\n<td valign=\"bottom\"><strong>Repor\u00adted<\/strong><\/td>\n<td valign=\"bottom\"><strong>Non-IFRS<\/strong><\/td>\n<td valign=\"bottom\"><strong>Repor\u00adted<\/strong><\/td>\n<td valign=\"bottom\"><strong>Non-IFRS<\/strong><\/td>\n<td valign=\"bottom\"><strong>Repor\u00adted<\/strong><\/td>\n<\/tr>\n<tr>\n<td valign=\"bottom\"><strong>1\u20136 2013<\/strong><\/td>\n<td valign=\"bottom\"><strong>1\u20136 2013<\/strong><\/td>\n<td valign=\"bottom\"><strong>1\u20136 2013<\/strong><\/td>\n<td valign=\"bottom\"><strong>1\u20136 2013<\/strong><\/td>\n<td valign=\"bottom\"><strong>1\u201312 2012<\/strong><\/td>\n<td valign=\"bottom\"><strong>1\u201312 2012<\/strong><\/td>\n<td valign=\"bottom\"><strong>1\u201312 2012<\/strong><\/td>\n<td valign=\"bottom\"><strong>1\u201312 2012<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"text-align: right;\" valign=\"top\">Net sales<br>\n(<span class=\"caps\">EUR<\/span> billions)<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">11.5<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">11.5<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">6.3<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">6.2<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">30.3<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">30.3<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">15.3<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">15.3<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;\" valign=\"top\">Ope\u00adra\u00adting profit&nbsp;(%)<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">4.2<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">-2.3<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">12.1<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">0.8<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">0.4<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">-7.6<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">8.5<\/td>\n<td style=\"text-align: right;\" align=\"right\" valign=\"bottom\">-4.0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><em>1) The pro for\u00adma net sales for con\u00adti\u00adnuing ope\u00adra\u00adti\u00adons have been cal\u00adcu\u00adla\u00adted by deduc\u00adting the Mobi\u00adle Pho\u00adnes and Smart Devices busi\u00adness units net sales and spa\u00adre parts net sales from the Nokia Group net&nbsp;sales.<\/em><br>\n<em>2) Addi\u00adtio\u00adnal\u00adly, con\u00adti\u00adnuing ope\u00adra\u00adti\u00adons pro for\u00adma net sales have been adjus\u00adted to reflect the <span class=\"caps\">HERE<\/span> plat\u00adform licen\u00adse agree\u00adment under which Micro\u00adsoft will sepa\u00adra\u00adte\u00adly pay Nokia, as if the tran\u00adsac\u00adtion had clo\u00adsed on Janu\u00adary 1,&nbsp;2012.<\/em><br>\n<em>3) The pro for\u00adma ope\u00adra\u00adting pro\u00adfit % has been cal\u00adcu\u00adla\u00adted by deduc\u00adting the Mobi\u00adle Pho\u00adnes and Smart Devices busi\u00adness units cos\u00adts from the Nokia group cos\u00adts as well as by making cer\u00adtain cost adjus\u00adt\u00adments bet\u00adween the trans\u00adfer\u00adring busi\u00adness and con\u00adti\u00adnuing ope\u00adra\u00adti\u00adons to reflect the scope of the transaction.<\/em><br>\n<em>4) The abo\u00adve figu\u00adres reflect the retro\u00ads\u00adpec\u00adti\u00adve appli\u00adca\u00adti\u00adon of <span class=\"caps\">IAS<\/span> <span class=\"caps\">19R<\/span>, Employee bene\u00adfits, as published in our 2013 inte\u00adrim reports.<\/em><\/p>\n<p>The tran\u00adsac\u00adtion is also expec\u00adted to signi\u00adfi\u00adcant\u00adly streng\u00adthen Nokia\u2019s finan\u00adcial posi\u00adti\u00adon and Nokia tar\u00adgets to return to being an invest\u00adment gra\u00adde com\u00adpa\u00adny. If this tran\u00adsac\u00adtion as well as Nokia\u2019s acqui\u00adsi\u00adti\u00adon of 50% of <span class=\"caps\">NSN<\/span> would have clo\u00adsed befo\u00adre the end of the second quar\u00adter 2013, Nokia would have ended the quar\u00adter with gross cash of <span class=\"caps\">EUR<\/span> 14.9 bil\u00adli\u00adon and net cash of <span class=\"caps\">EUR<\/span> 7.8 bil\u00adli\u00adon, exclu\u00adding tran\u00adsac\u00adtion rela\u00adted expen\u00adses and taxes. Assum\u00ading repay\u00adment of finan\u00adcing faci\u00adli\u00adties rela\u00adted to the <span class=\"caps\">NSN<\/span> acqui\u00adsi\u00adti\u00adon as well as Nokia\u2019s debt faci\u00adli\u00adties of <span class=\"caps\">EUR<\/span> 1.8 bil\u00adli\u00adon matu\u00adring befo\u00adre the end of the first quar\u00adter 2014, Nokia would have ended the second quar\u00adter 2013 with gross cash of <span class=\"caps\">EUR<\/span> 11.4 bil\u00adli\u00adon and net cash of <span class=\"caps\">EUR<\/span> 7.8 bil\u00adli\u00adon, exclu\u00adding tran\u00adsac\u00adtion rela\u00adted expen\u00adses and taxes. This com\u00adpa\u00adres to repor\u00adted gross cash of <span class=\"caps\">EUR<\/span> 9.5 bil\u00adli\u00adon and net cash of <span class=\"caps\">EUR<\/span> 4.1 bil\u00adli\u00adon at the end of the second quar\u00adter&nbsp;2013.<\/p>\n<p>Nokia\u2019s Board of Direc\u00adtors is con\u00adduc\u00adting a stra\u00adtegy eva\u00adlua\u00adti\u00adon for Nokia Group bet\u00adween sig\u00adning and clo\u00adsing of the tran\u00adsac\u00adtion. This eva\u00adlua\u00adti\u00adon will com\u00adpri\u00adse of eva\u00adlua\u00adtions of stra\u00adte\u00adgies for each of Nokia\u2019s three busi\u00adnesses and pos\u00adsi\u00adble syn\u00ader\u00adgies bet\u00adween them, as well as an eva\u00adlua\u00adti\u00adon of the opti\u00admal cor\u00adpo\u00adra\u00adte and capi\u00adtal struc\u00adtu\u00adre for Nokia after the clo\u00adsing of the tran\u00adsac\u00adtion. After this eva\u00adlua\u00adti\u00adon is com\u00adple\u00adte, dee\u00admed excess capi\u00adtal is plan\u00adned to be dis\u00adtri\u00adbu\u00adted to shareholders.<\/p>\n<p>Nokia expects to book a gain on sale of appro\u00adxi\u00adm\u00adate\u00adly <span class=\"caps\">EUR<\/span> 3.2 bil\u00adli\u00adon from the tran\u00adsac\u00adtion, exclu\u00adding any poten\u00adti\u00adal tax impli\u00adca\u00adti\u00adons, gains or los\u00adses rela\u00adted to cur\u00adren\u00adcy trans\u00adla\u00adti\u00adon dif\u00adfe\u00adren\u00adces trig\u00adge\u00adred by the tran\u00adsac\u00adtion. In con\u00adnec\u00adtion with the tran\u00adsac\u00adtion, Nokia will be requi\u00adred to eva\u00adlua\u00adte whe\u00adther the impact of the sale on future cash flows or ope\u00adra\u00adting results requi\u00adres chan\u00adges in the car\u00adry\u00ading values of any of its remai\u00adning assets or lia\u00adbi\u00adli\u00adties. This eva\u00adlua\u00adti\u00adon will include, among other things, a review of exis\u00adting good\u00adwill balan\u00adces for impair\u00adment and the poten\u00adti\u00adal reco\u00advera\u00adbi\u00adli\u00adty of defer\u00adred tax assets curr\u00adent\u00adly sub\u00adject to valua\u00adti\u00adon allo\u00adwan\u00adce.&nbsp; Addi\u00adtio\u00adnal assets and lia\u00adbi\u00adli\u00adties may requi\u00adre adjus\u00adt\u00adment upon com\u00adple\u00adti\u00adon of our review.<\/p>\n<p><strong>Nokia Lea\u00adder\u00adship<\/strong><\/p>\n<p>Nokia today announ\u00adced chan\u00adges to its lea\u00adder\u00adship as a result of the pro\u00adpo\u00adsed tran\u00adsac\u00adtion. The\u00adse chan\u00adges, which are effec\u00adti\u00adve imme\u00addia\u00adte\u00adly, are desi\u00adgned to pro\u00advi\u00adde an appro\u00adpria\u00adte cor\u00adpo\u00adra\u00adte gover\u00adnan\u00adce struc\u00adtu\u00adre during the inte\u00adrim peri\u00adod fol\u00adlo\u00adwing the announce\u00adment of this transaction.<\/p>\n<p>The Nokia Lea\u00adder\u00adship Team will con\u00adti\u00adnue to con\u00adsist of the cur\u00adrent mem\u00adbers, but with chan\u00adges in posi\u00adti\u00adons and report\u00ading lines as out\u00adlined&nbsp;below.<\/p>\n<p>Ris\u00adto Sii\u00adlas\u00admaa will assu\u00adme an inte\u00adrim <span class=\"caps\">CEO<\/span> role for Nokia while con\u00adti\u00adnuing to ser\u00adve in his role as Chair\u00adman of the Nokia Board of Direc\u00adtors. As part of his inte\u00adrim <span class=\"caps\">CEO<\/span> role, Mr. Sii\u00adlas\u00admaa will, among other tasks, over\u00adsee stra\u00adtegy and have four direct reports: Micha\u00adel Halb\u00adherr, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, <span class=\"caps\">HERE<\/span>; Ste\u00adphen Elop, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices; Timo Iha\u00admuoti\u00adla, Nokia <span class=\"caps\">CFO<\/span> and inte\u00adrim Pre\u00adsi\u00addent; and Jes\u00adper Ove\u00adsen, Exe\u00adcu\u00adti\u00adve Chair\u00adman of the <span class=\"caps\">NSN<\/span> Board of Directors.<\/p>\n<p>To avo\u00adid the per\u00adcep\u00adti\u00adon of any poten\u00adti\u00adal con\u00adflict of inte\u00adrest bet\u00adween now and the pen\u00adding clo\u00adsure of the tran\u00adsac\u00adtion, Ste\u00adphen Elop will step asi\u00adde as Pre\u00adsi\u00addent and <span class=\"caps\">CEO<\/span> of Nokia Cor\u00adpo\u00adra\u00adti\u00adon, resign from the Board of Direc\u00adtors, and will beco\u00adme Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices. The fol\u00adlo\u00adwing Nokia Lea\u00adder\u00adship Team mem\u00adbers will report to Mr. Elop: Mar\u00adko Ahti\u00adsaa\u00adri, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Design; Jo Har\u00adlow, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Smart Devices; Juha Put\u00adki\u00adran\u00adta, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Ope\u00adra\u00adti\u00adons; Timo Toik\u00adka\u00adnen, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Mobi\u00adle Pho\u00adnes; and Chris Weber, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Sales and Marketing.<\/p>\n<p>Timo Iha\u00admuoti\u00adla beco\u00admes Pre\u00adsi\u00addent of Nokia for the inte\u00adrim peri\u00adod while also con\u00adti\u00adnuing to ser\u00adve as <span class=\"caps\">CFO<\/span>. Mr. Iha\u00admuoti\u00adla will assu\u00adme the respon\u00adsi\u00adbi\u00adli\u00adty of chai\u00adring the Nokia Lea\u00adder\u00adship Team. The fol\u00adlo\u00adwing Nokia Lea\u00adder\u00adship Team mem\u00adbers will report to Mr. Iha\u00admuoti\u00adla: Loui\u00adse Pent\u00adland, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent and Chief Legal Offi\u00adcer; Hen\u00adry Tir\u00adri, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent and Chief Tech\u00adno\u00adlo\u00adgy Offi\u00adcer; Juha \u00c4kr\u00e4s, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Human Resour\u00adces; and Kai \u00d6ist\u00e4m\u00f6, Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Cor\u00adpo\u00adra\u00adte Development.<\/p>\n<p>We expect that Mr. Elop, Ms. Har\u00adlow, Mr. Put\u00adki\u00adran\u00adta, Mr. Toik\u00adka\u00adnen, and Mr. Weber would trans\u00adfer to Micro\u00adsoft at the anti\u00adci\u00adpa\u00adted closing.<\/p>\n<p>Mr. Ahti\u00adsaa\u00adri has deci\u00added to again pur\u00adsue entre\u00adpre\u00adneu\u00adri\u00adal oppor\u00adtu\u00adni\u00adties. He will step down from the Nokia Lea\u00adder\u00adship Team and his posi\u00adti\u00adon as Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent, Design, effec\u00adti\u00adve as from Novem\u00adber 1, 2013. He will con\u00adti\u00adnue to work on acti\u00advi\u00adties rela\u00adted to the tran\u00adsac\u00adtion through Novem\u00adber 30, 2013. Effec\u00adti\u00adve Novem\u00adber 1, 2013 Ste\u00adfan Pan\u00adnen\u00adbe\u00adcker will start lea\u00adding Design, report\u00ading to Mr.&nbsp;Elop.<\/p>\n<p>This announce\u00adment does not chan\u00adge the cur\u00adrent lea\u00adder\u00adship for Nokia Solu\u00adti\u00adons and Net\u00adworks. Rajeev Suri will con\u00adti\u00adnue to ser\u00adve as <span class=\"caps\">CEO<\/span>, <span class=\"caps\">NSN<\/span>, report\u00ading to <span class=\"caps\">NSN<\/span>\u2019s Board which con\u00adti\u00adnues to be chai\u00adred by Jes\u00adper Ove\u00adsen who con\u00adti\u00adnues to ser\u00adve as <span class=\"caps\">NSN<\/span>\u2019s Exe\u00adcu\u00adti\u00adve Chair\u00adman and reports to Mr. Siilasmaa.<\/p>\n<p><strong>Nokia Board of Directors<\/strong><\/p>\n<p>To avo\u00adid the per\u00adcep\u00adti\u00adon of any poten\u00adti\u00adal con\u00adflict of inte\u00adrest bet\u00adween now and the pen\u00adding clo\u00adsure of the tran\u00adsac\u00adtion, Ste\u00adphen Elop will resign from the Nokia Board of Direc\u00adtors effec\u00adti\u00adve today. The Nokia Board curr\u00adent\u00adly con\u00adsists of the fol\u00adlo\u00adwing nine mem\u00adbers: Ris\u00adto Sii\u00adlas\u00admaa, Chair\u00adman; Jou\u00adko Kar\u00advi\u00adnen, Vice Chair\u00adman; Bruce Brown; Eliza\u00adbeth Doh\u00aderty; Hen\u00adning Kager\u00admann; Hel\u00adge Lund; M\u00e5r\u00adten Mic\u00adkos; Eliza\u00adbeth Nel\u00adson and Kari Sta\u00addigh. As a result of Mr. Sii\u00adlas\u00admaa assum\u00ading the inte\u00adrim <span class=\"caps\">CEO<\/span> role, and in line with good cor\u00adpo\u00adra\u00adte gover\u00adnan\u00adce, Mr. Sii\u00adlas\u00admaa will no lon\u00adger be a mem\u00adber and Chair\u00adman of the Cor\u00adpo\u00adra\u00adte Gover\u00adnan\u00adce <span class=\"amp\">&amp;<\/span> Nomi\u00adna\u00adti\u00adon Com\u00admit\u00adtee. The Cor\u00adpo\u00adra\u00adte Gover\u00adnan\u00adce and Nomi\u00adna\u00adti\u00adon Com\u00admit\u00adtee curr\u00adent\u00adly con\u00adsists of the fol\u00adlo\u00adwing three mem\u00adbers:&nbsp; Mr. Kager\u00admann, Mr. Kar\u00advi\u00adnen and Mr. Lund. The Board elec\u00adted Mr. Kar\u00advi\u00adnen as the Chair\u00adman of the Cor\u00adpo\u00adra\u00adte Gover\u00adnan\u00adce <span class=\"amp\">&amp;<\/span> Nomi\u00adna\u00adti\u00adon Com\u00admit\u00adtee. The com\u00adpo\u00adsi\u00adti\u00adon of the Per\u00adson\u00adnel Com\u00admit\u00adtee and the Audit Com\u00admit\u00adtee remain unchanged.<\/p>\n<p><strong>Extra\u00ador\u00addi\u00adna\u00adry share\u00adhol\u00adders mee\u00adting and Nokia Board recommendation<\/strong><\/p>\n<p>Under the terms of the agree\u00adment, the clo\u00adsing of the tran\u00adsac\u00adtion will be sub\u00adject to appr\u00adoval by Nokia share\u00adhol\u00adders. Nokia plans to hold an Extra\u00ador\u00addi\u00adna\u00adry Gene\u00adral Mee\u00adting on Novem\u00adber 19, 2013 and to publish a noti\u00adce of the mee\u00adting and make available more infor\u00adma\u00adti\u00adon on the tran\u00adsac\u00adtion and its back\u00adground later this month. Having tho\u00adrough\u00adly ana\u00adly\u00adsed the tran\u00adsac\u00adtion and other alter\u00adna\u00adti\u00adves available, the Board of Direc\u00adtors deci\u00added to enter into the tran\u00adsac\u00adtion and recom\u00admends that Nokia share\u00adhol\u00adders vote to con\u00adfirm and appro\u00adve the sale of sub\u00adstan\u00adti\u00adal\u00adly all of the Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices busi\u00adness to Micro\u00adsoft at the Extra\u00ador\u00addi\u00adna\u00adry Gene\u00adral Meeting.<\/p>\n<p><strong>Inves\u00adtor Con\u00adfe\u00adrence&nbsp;Call<\/strong><\/p>\n<p>Today, Nokia exe\u00adcu\u00adti\u00adves will hold an inves\u00adtor call at 3.00pm Fin\u00adnish time. A live web\u00adcast of the con\u00adfe\u00adrence call will be available at <a href=\"http:\/\/investors.nokia.com\/\">http:\/\/investors.nokia.com<\/a>. Media repre\u00adsen\u00adta\u00adti\u00adves can view the web\u00adcast or lis\u00adten in at +1 706 634 5012, con\u00adfe\u00adrence <span class=\"caps\">ID<\/span> 45390451.<\/p>\n<p><strong>Press Con\u00adfe\u00adrence<\/strong><\/p>\n<p>Nokia will host a press con\u00adfe\u00adrence today on Tues\u00adday at 11.00 a.m. <span class=\"caps\">EET<\/span> in Dipo\u00adli, Espoo (Otaka\u00ada\u00adri 24). Regis\u00adtra\u00adti\u00adon will start at 10 a.m., and the doors will open at 10.40 a.m. Due to space cons\u00adtraints, only media who show valid press cre\u00adden\u00adti\u00adals at the regis\u00adtra\u00adti\u00adon will be admit\u00adted. Media are encou\u00adra\u00adged to watch a live web\u00adcast of the press con\u00adfe\u00adrence via: <a href=\"http:\/\/press.nokia.com\/\">http:\/\/press.nokia.com<\/a>.<\/p>\n<p><strong>Media Enqui\u00adries<\/strong><\/p>\n<p>Nokia<br>\nCommunications<\/p>\n<p>Tel. +358 7180&nbsp;34900<br>\nEmail: press.services@nokia.com<br>\n<a href=\"http:\/\/www.nokia.com\/\">www.nokia.com\/<\/a><\/p>\n<p><strong><em><span class=\"caps\">FORWARD-LOOKING<\/span> <span class=\"caps\">STATEMENTS<\/span><\/em><\/strong><br>\n<em>It should be noted that Nokia and its busi\u00adness are expo\u00adsed to various risks and uncer\u00adtain\u00adties and cer\u00adtain state\u00adments her\u00adein that are not his\u00adto\u00adri\u00adcal facts are for\u00adward-loo\u00adking state\u00adments, inclu\u00adding, wit\u00adhout limi\u00adta\u00adti\u00adon, tho\u00adse regar\u00adding: A) the plan\u00adned sale by Nokia of sub\u00adstan\u00adti\u00adal\u00adly all of Nokia\u2019s Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices busi\u00adness, inclu\u00adding Smart Devices and Mobi\u00adle Pho\u00adnes&nbsp; (refer\u00adred to below as \u201cSale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness\u201d) pur\u00adsu\u00adant to a purcha\u00adse agree\u00adment bet\u00adween Nokia and Micro\u00adsoft (refer\u00adred to below as \u201cAgree\u00adment\u201d); B) the clo\u00adsing of the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; C) obtai\u00adning the share\u00adhol\u00adder appr\u00adoval for the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; D) recei\u00adving time\u00adly, or at all, neces\u00adsa\u00adry regu\u00adla\u00adto\u00adry appr\u00adovals for the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; E) expec\u00adta\u00adti\u00adons, plans or bene\u00adfits rela\u00adted to or cau\u00adsed by the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; F) expec\u00adta\u00adti\u00adons, plans or bene\u00adfits rela\u00adted to Nokia\u2019s stra\u00adte\u00adgies, inclu\u00adding plans for Nokia with respect to its con\u00adti\u00adnuing busi\u00adness are\u00adas that will not be dive\u00ads\u00adted in con\u00adnec\u00adtion with the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; G) expec\u00adta\u00adti\u00adons, plans or bene\u00adfits rela\u00adted to chan\u00adges in lea\u00adder\u00adship and ope\u00adra\u00adtio\u00adnal struc\u00adtu\u00adre; H) expec\u00adta\u00adti\u00adons and tar\u00adgets regar\u00adding our ope\u00adra\u00adtio\u00adnal prio\u00adri\u00adties, finan\u00adcial per\u00adfor\u00admance or posi\u00adti\u00adon, results of ope\u00adra\u00adti\u00adons and use of pro\u00adceeds from the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; and I) state\u00adments pre\u00adce\u00added by \u201cbelie\u00adve,\u201d \u201cexpect,\u201d \u201canti\u00adci\u00adpa\u00adte,\u201d \u201cfore\u00adsee,\u201d \u201csees,\u201d \u201ctar\u00adget,\u201d \u201cesti\u00adma\u00adte,\u201d \u201cdesi\u00adgned,\u201d \u201caim\u201d, \u201cplans,\u201d \u201cintends,\u201d \u201cfocus,\u201d \u201cwill\u201d or simi\u00adlar expres\u00adsi\u00adons. The\u00adse state\u00adments are based on management\u2019s best assump\u00adti\u00adons and beliefs in light of the infor\u00adma\u00adti\u00adon curr\u00adent\u00adly available to it. Becau\u00adse they invol\u00adve risks and uncer\u00adtain\u00adties, actu\u00adal results may dif\u00adfer mate\u00adri\u00adal\u00adly from the results that we curr\u00adent\u00adly expect. Fac\u00adtors, inclu\u00adding risks and uncer\u00adtain\u00adties that could cau\u00adse the\u00adse dif\u00adfe\u00adren\u00adces include, but are not limi\u00adt\u00aded to: 1) the ina\u00adbi\u00adli\u00adty to clo\u00adse the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness in a time\u00adly man\u00adner, or at all, for ins\u00adtance due to the ina\u00adbi\u00adli\u00adty or delays in obtai\u00adning the share\u00adhol\u00adder appr\u00adoval or neces\u00adsa\u00adry regu\u00adla\u00adto\u00adry appr\u00adovals for the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness, or the occur\u00adrence of any event, chan\u00adge or other cir\u00adcum\u00ads\u00adtance that could give rise to the ter\u00admi\u00adna\u00adti\u00adon of the Agree\u00adment; 2) the poten\u00adti\u00adal adver\u00adse effect on the sales of our mobi\u00adle devices, busi\u00adness rela\u00adti\u00adonships, ope\u00adra\u00adting results and busi\u00adness gene\u00adral\u00adly&nbsp; resul\u00adting from the announce\u00adment of the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness or from the terms that we have agreed for the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; 3) any nega\u00adti\u00adve effect cau\u00adsed by us ente\u00adring into the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness, as we may fore\u00adgo other com\u00adpe\u00adti\u00adti\u00adve alter\u00adna\u00adti\u00adves for stra\u00adte\u00adgies or part\u00adner\u00adships that would bene\u00adfit our Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices busi\u00adness and if the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness is not clo\u00adsed, we may have limi\u00adt\u00aded opti\u00adons to con\u00adti\u00adnue the Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices&nbsp; busi\u00adness or enter into ano\u00adther tran\u00adsac\u00adtion on terms favorable to us, or at all; 4) our abili\u00adty to effec\u00adtively and smooth\u00adly imple\u00adment plan\u00adned chan\u00adges to our lea\u00adder\u00adship and ope\u00adra\u00adtio\u00adnal struc\u00adtu\u00adre or main\u00adtain an effi\u00adci\u00adent inte\u00adrim gover\u00adnan\u00adce struc\u00adtu\u00adre and pre\u00adser\u00adve or hire key per\u00adson\u00adnel; 5) any nega\u00adti\u00adve effect from the imple\u00admen\u00adta\u00adti\u00adon of the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness, which will requi\u00adre signi\u00adfi\u00adcant time, atten\u00adti\u00adon and resour\u00adces of our seni\u00ador manage\u00adment and others within the com\u00adpa\u00adny poten\u00adti\u00adal\u00adly diver\u00adting their atten\u00adti\u00adon from other aspects of our busi\u00adness; 6) dis\u00adrup\u00adti\u00adon and dis\u00adsa\u00adtis\u00adfac\u00adtion among employees cau\u00adsed by the plans and imple\u00admen\u00adta\u00adti\u00adon of the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness redu\u00adcing focus and pro\u00adduc\u00adti\u00advi\u00adty in are\u00adas of our busi\u00adness; 7) the amount of the cos\u00adts, fees, expen\u00adses and char\u00adges rela\u00adted to or trig\u00adge\u00adred by the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; 8) any impairm\u00adents or char\u00adges to car\u00adry\u00ading values of assets or lia\u00adbi\u00adli\u00adties rela\u00adted to or trig\u00adge\u00adred by the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; 9) poten\u00adti\u00adal adver\u00adse effect on our busi\u00adness, pro\u00adper\u00adties or ope\u00adra\u00adti\u00adons cau\u00adsed by us imple\u00admen\u00adting the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; 10) the initia\u00adti\u00adon or out\u00adco\u00adme of any legal pro\u00adcee\u00addings, regu\u00adla\u00adto\u00adry pro\u00adcee\u00addings or enforce\u00adment mat\u00adters that may be insti\u00adtu\u00adted against us rela\u00adting to the Sale of the D<span class=\"amp\">&amp;<\/span>S Busi\u00adness; and, as well as the risk fac\u00adtors spe\u00adci\u00adfied on pages 12\u201347 of Nokia\u2019s annu\u00adal report on Form 20\u2011F for the year ended Decem\u00adber 31, 2012 under Item <span class=\"caps\">3D<\/span>. \u201cRisk Fac\u00adtors.\u201d and risks out\u00adlined in our most recent inte\u00adrim report. Other unknown or unpre\u00addic\u00adta\u00adble fac\u00adtors or under\u00adly\u00ading assump\u00adti\u00adons sub\u00adse\u00adquent\u00adly pro\u00adving to be incor\u00adrect could cau\u00adse actu\u00adal results to dif\u00adfer mate\u00adri\u00adal\u00adly from tho\u00adse in the for\u00adward-loo\u00adking state\u00adments. Nokia does not under\u00adta\u00adke any obli\u00adga\u00adti\u00adon to publicly update or revi\u00adse for\u00adward-loo\u00adking state\u00adments, whe\u00adther as a result of new infor\u00adma\u00adti\u00adon, future events or other\u00adwi\u00adse, except to the ext\u00adent legal\u00adly required.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>- See more at: http:\/\/press.nokia.com\/2013\/09\/03\/nokia-to-sell-devices-services-business-to-microsoft-in-eur\u20115\u201344-billion-all-cash-transaction\/#sthash.Zi9NLpei.dpuf<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"caps\">ESPOO<\/span>, Fin\u00adland \u2014 Nokia Cor\u00adpo\u00adra\u00adti\u00adon today announ\u00adced that it has signed an agree\u00adment to enter into a tran\u00adsac\u00adtion wher\u00adeby Nokia will sell sub\u00adstan\u00adti\u00adal\u00adly all of its Devices <span class=\"amp\">&amp;<\/span> Ser\u00advices busi\u00adness and licence its patents to Micro\u00adsoft for <span class=\"caps\">EUR<\/span> 5.44 bil\u00adli\u00adon in cash, paya\u00adble at clo\u00adsing. Nokia expects to book a gain on sale of appro\u00adxi\u00adm\u00adate\u00adly <span class=\"caps\">EUR<\/span> 3.2 bil\u00adli\u00adon, and expects the tran\u00adsac\u00adtion to be signi\u00adfi\u00adcant\u00adly accre\u00adti\u00adve to ear\u00adnings. (\u2026) <a class=\"moretag\" href=\"https:\/\/www.planet3dnow.de\/cms\/2042-nokia-to-sell-devices-services-business-to-microsoft-in-eur-5-44-billion-all-cash-transaction\/\">Wei\u00adter\u00adle\u00adsen&nbsp;\u00bb<\/a><\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"ngg_post_thumbnail":0,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-2042","post","type-post","status-publish","format-standard","hentry","category-pressemitteilungen","entry"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/2042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/comments?post=2042"}],"version-history":[{"count":5,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/2042\/revisions"}],"predecessor-version":[{"id":8515,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/2042\/revisions\/8515"}],"wp:attachment":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/media?parent=2042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/categories?post=2042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/tags?post=2042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}