Microsoft has agreed to buy Nokia’s mobile phone business for €5.4 billion (£4.6 billion).

As part of the deal, Nokia will licence its patents and mapping services to Microsoft. Its enterprise IT, networking, software and services divisions are unaffected by the deal.
Nokia has been the biggest supporter of Windows Phone since it launched in October 2010.
If approved by shareholders and regulators, the purchase is set to be completed in early 2014. Around 32,000 employees will transfer to Microsoft as part of the deal.
Nokia’s chief executive Stephen Elop – who joined the company from Microsoft in September 2010 – will step down as part of the deal. He is expected to become head of devices at Microsoft if the purchase is approved