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October 30, 2013 AT 1:43 PM
Microsoft has asked the European Union to approve its bid to buy Nokia for $7.2 billion as the software giant continues its push into devices and services. The 28-member state bloc's antitrust regulators will now decide whether or not the company's bid breaches the EU's rules on competition. Authorities can block the deal, or fine the companies heavily. According to Reuters, the Commission said it would decide by December 4 whether to clear the acquisition.