3 Is the Magic Number for Microsoft
With Microsoft 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.
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Erin Kennedy has no position in any stocks mentioned. Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool recommends Google. The Motley Fool owns shares of Google and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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