Microsoft buying Nokia's phone unit as part of $7.2B deal. It's the end of an era: Nokia's (NOK) shares jumped 39% premarket following news that Microsoft (MSFT) has agreed to acquire the Finnish company's mobile handset unit for $5B and license its patents and mapping services for $2.2B. Nokia CEO Stephen Elop and other senior Nokia executives will join Microsoft, as will 32,000 workers. Seeking Alpha authors Charles Fox and Jacob Steinberg aren't particularly happy with the price for the mobile unit, which Fox says "seems like chump change for a...division that once ruled the phone market" and could come back.
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