Nokia to hand over the keys to its headquarters to Microsoft

City A.M. Reporter
NOKIA said it plans to hand over the lease of its headquarters to Microsoft when the US company takes over its mobile phone business in a deal scheduled to close early next year.

Nokia had already last year sold the glass and steel building in the city of Espoo, which is on the Baltic Sea near Helsinki, to real estate company Exilion for €170m (£141.7m) and was leasing it back.

Nokia’s shareholders approved the €5.4bn deal with Microsoft earlier this week.

Nokia employees working for the mobile phone business are due to transfer to Microsoft.

After the sale, Nokia’s main business will be its telecom equipment unit Nokia Solutions and Networks, based at another location in Espoo.

Stephen Elop has already left his job as Nokia chief executive to join Microsoft as vice president of devices and services.

He has been touted as a successor to boss Steve Ballmer, who announced in August his plan to leave Microsoft within 12 months.