Microsoft reportedly plans to rename Nokia Oyj
The new Microsoft Mobile Oy subsidiary will serve as the company's mobile devices division, according to a letter obtained by Nokiapoweruser.
When Microsoft's acquisition of Nokia's devices and services business closes, the software giant plans to rename Nokia Oyj to Microsoft Mobile Oy, according to a letter sent to suppliers.
The new wholly-owned subsidiary will serve as Microsoft's mobile devices division, according to the letter, which informed suppliers that the terms and conditions of their contracts will not change when the deal is completed.
"Please note that upon the close of the transaction between Microsoft and Nokia, the name of Nokia Corporation/Nokia Oyj will change to Microsoft Mobile Oy," a copy of which was obtained by Nokiapoweruser.
Oyj is the Finnish equivalent of Plc, whereas Oy (short for Osakeyhtiö) is analogous to Ltd.
CNET has contacted Microsoft for comment and will update this report when we learn more.
When Microsoft announced its plans to acquire Nokia's handset division and license some patents last September, the company said it expected the $7.2 billion deal to close by the first quarter of this year. However, Microsoft announced last month that antitrust reviews of the acquisition in Asia would delay the deal's closure until April.
Nokia said on Monday that it expects the deal to close on April 25.
Microsoft shares ticked up 7 cents, or 0.2 percent, to $40.08 in trading on Monday.
Updated at 10:16 a.m. PT on April 21: To include Nokia's confirmation of the closing date and Microsoft's recent share price.
Updated at 05:22 PT on April 23: To clarify the meaning of Oyj and Oy.