Nokia Stock Surges On Microsoft Takeover

wochit business
September 03, 2013 AT 7:14 AM
Microsoft Corp. is buying Nokia Corp.'s line-up of smartphones and a portfolio of patents and services in an attempt to strengthen its fight with Apple Inc. and Google Inc. and capture a slice of the lucrative mobile computing market. Investors in Nokia welcomed the deal, sending shares in the company up more than 35 percent to 4.03 euros in Helsinki. Microsoft's shares, however, were down 4.4 percent at $31.93 in early trading in the U.S.