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| Former Nokia boss Stephen Elop to receive $25m pay-off | Former Nokia boss Stephen Elop to receive $25m pay-off |
| (about 2 hours later) | |
| Former Nokia chief executive Stephen Elop, will receive a $25m (£16m) pay-off when Microsoft's deal to buy Nokia's handset business goes through. | Former Nokia chief executive Stephen Elop, will receive a $25m (£16m) pay-off when Microsoft's deal to buy Nokia's handset business goes through. |
| Under the deal, Mr Elop will receive 18 months of his salary and proceeds from incentive and share schemes. | |
| Mr Elop moved from Microsoft to run Nokia in September 2010 and will return to his former employer when the deal is completed. | Mr Elop moved from Microsoft to run Nokia in September 2010 and will return to his former employer when the deal is completed. |
| Microsoft will fund 70% of his pay-off, which has sparked anger in Finland. | Microsoft will fund 70% of his pay-off, which has sparked anger in Finland. |
| The nation's economy minister, Jan Vapaavuori, reportedly said: "I find it difficult to understand the merits of this bonus." | The nation's economy minister, Jan Vapaavuori, reportedly said: "I find it difficult to understand the merits of this bonus." |
| Earlier this month Microsoft agreed a deal to buy Nokia's mobile phone business for $7.2bn. | Earlier this month Microsoft agreed a deal to buy Nokia's mobile phone business for $7.2bn. |
| The purchase is set to be completed in early 2014, when about 32,000 Nokia employees will transfer to Microsoft. | The purchase is set to be completed in early 2014, when about 32,000 Nokia employees will transfer to Microsoft. |
| Nokia shareholders are due to vote on the deal on 19 November. | Nokia shareholders are due to vote on the deal on 19 November. |