Nokia Investors Approve Phone Unit’s Sale to Microsoft

Nokia Oyj investors cleared the sale of its mobile-phone unit to Microsoft Corp. in a 5.44 billion-euro ($7.4 billion) deal, unshackling the Finnish company from the unprofitable division and letting it focus on networks.

Shareholders meeting in Helsinki yesterday approved the disposal of the business that makes Lumia smartphones and Asha feature phones to the software giant, Nokia officials announced at the event. More than 99 percent voted in favor of the deal.