With the closure of the Microsoft-Nokia deal nearing, the software giant has sent an email to suppliers saying that Nokia's phone division will become a wholly-owned subsidiary, and will be renamed from Nokia Oyj to Microsoft Mobile Oy, according to WMPoweruser. In Finnish Oyj means PLC (public limited company), while Oy means LLC (limited liability company).
"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", the Redmond, Washington-based company said in the e-mail, adding that the new legal entity name should be used for VAT IDs and for the issuance of invoices.
While the company will remain Finland-based, its official business address will be changed from Keilalahdentie to Keilaranta in Espoo. Meanwhile, not much will change for Nokia's suppliers in the immediate future as the current terms and conditions that that they have with the company's Devices and Services business will not be affected by the deal.
Back in September last year, Microsoft bought Nokia's Devices and Services unit for 5.4 billion Euros. The deal covered Nokia's entire mobile phone business, including their Lumia (Windows Phone) and Asha (feature-phone) ranges, as well as assembly facilities, design teams and sales personnel.
Originally it was predicted that the deal would close in the first quarter of 2014, but due to a delay in regulatory approval from Chinese authorities, it was later announced that the deal would complete in April. Nokia is also facing tax disputes with the Indian authorities, but the company maintains that this won’t affect the timing of the deal’s completion.
https://www.techspot.com/news/56460-nokia-oyj-reportedly-to-be-renamed-microsoft-mobile-oy.html
