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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Microsoft Corporation | NASDAQ:MSFT | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.42 | 0.36% | 399.26 | 399.29 | 399.30 | 31,414 | 12:07:05 |
From May 2019 to May 2024
By Joanne Chiu
FIH Mobile Ltd. (2038.HK) plans to team up with HMD Global Oy to buy the smartphone assets under the Nokia trademark from Microsoft Corp. (MSFT) for US$350 million.
The unit of Taiwanese electronics assembler Hon Hai Precision Industry Co. (2317.TW) said Wednesday that the target assets to be acquired involve the designing, manufacturing and selling of phones that are sold under the brand name Nokia.
Of the total consideration, FIH Mobile will pay US$330 million while the remaining US$20 million is payable by HMD global, a company organized Finnish law.
As part of the deal, FIH Mobile will also buy Microsoft's smartphone-manufacturing facilities in Hanoi. About 4,500 employees will transfer to, or have the opportunity to join, FIH Mobile or HMD Global subject to the closure of the deal, Microsoft said in a separate statement.
Write to Joanne Chiu at joanne.chiu@wsj.com
(END) Dow Jones Newswires
May 18, 2016 05:33 ET (09:33 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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