NOK - Nokia Corporation - Nokia To Sell Devices & Services Business To Microsoft Transcript

    Company Name:Nokia Corporation
    Event Title:Nokia To Sell Devices & Services Business To Microsoft Transcript
    Event Date:03-Sep-2013
    Event Time:08:00 AM ET



    Good day. My name is Carmen and I will be your conference operator today.

    At this time, I'd like to welcome everyone to the Nokia Conference Call.

    All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

    I would now like to turn the call over to Matt Shimao, Head of Investor Relations. Please go ahead sir.

    Matt Shimao

    Head, Investor Relations
    Ladies and gentlemen, welcome to Nokia's investor conference call, during which we will discuss the transaction announced today.

    We intend this to be a 45 minute call.

    I am Matt Shimao, Head of Nokia Investor Relations. Mr. Siilasmaa, Chairman and Interim CEO of Nokia and Timo Ihamuotila, CFO and Interim President of Nokia are here in Espoo with me today.

    During this call, we'll be making forward-looking statements regarding the future business and financial performance of Nokia and its industry. These statements are predictions that involve risks and uncertainties. Actual results may therefore differ materially from the results we currently expect. Factors that could cause such differences can be both external such as general, economic and industry conditions as well as internal operating factors.

    We have identified these in more detail in the release we issued today on the transaction on pages 12 through 47 of our 2012 20-F and in our most recent interim report.

    With that, Timo, over to you.

    Timo Ihamuotila

    Executive Vice President and Chief Financial Officer
    Thank you, Matt and good morning or good afternoon to those of you joining us on the call to discuss the transaction announced today, which we believe is clearly value creating for our shareholders.

    I would like to spend a few minutes discussing the terms of the transaction, how Nokia would look from a financial perspective after the closing as well as some comments on our balance sheet and planned shareholder returns. Then I will turn the call over to Risto, who will discuss our continuing businesses and the timeline going forward in more detail.

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