November 21, 2013 / 9:12 AM / 6 years ago

Nokia to give up HQ building in Microsoft deal

HELSINKI, Nov 21 (Reuters) - Nokia said it plans to hand over the lease of its headquarters to Microsoft when the U.S. company takes over its mobile phone business in a deal scheduled to close early next year.

Nokia had already last year sold the glass and steel building in the city of Espoo, which is on the Baltic Sea near Helskinki, to real estate company Exilion for 170 million euros ($229 million) and was leasing it back.

Nokia’s shareholders approved the 5.4 billion euros deal with Microsoft earlier this week.

Nokia employees working for the mobile phone business are due to transfer to Microsoft. After the sale, Nokia’s main business will be its telecom equipment unit Nokia Solutions and Networks, based at another location in Espoo.

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