EC green lights Nokia's Trolltech buy

Nokia expects to settle its acquisition of Trolltech on 6 June

The European Commission has unconditionally approved Nokia's takeover of Norwegian software firm Trolltech.

Nokia said that, in light of the decision, it will now proceed with the " consummation" of the offer, and that settlement for the shares tendered is expected to take place on 6 June.

In accordance with its offer document, Nokia has determined that the tendered shares will be acquired by its wholly-owned Nokia Norge AS subsidiary.

Following the completion of the offer, Nokia will own 52,411,283 shares and votes in Trolltech, representing 99.4 per cent of all the shares outstanding in the company.

"Nokia intends to initiate a compulsory acquisition of the remaining shares in Trolltech in accordance with section 4-25 of the Norwegian Public Limited Companies Act," the firm said in a statement.

"Such compulsory acquisition of shares is expected to take effect on or about 6 June. In addition, Nokia will apply for the delisting of Trolltech's share from the Oslo Stock Exchange effective as soon as possible."