The United States Committee on Foreign Investment, the inter-agency governmental body which reviews international transactions with foreign companies, has cleared Nokia for its proposed acquisition of Alcatel-Lucent.
"Both companies will continue to work closely with the few remaining antitrust authorities in the relevant jurisdictions to conclude their regulatory reviews as quickly as possible," Nokia officials said in a statement, MarketWatch reports.
Nokia's deal with the global telecommunications equipment company is estimated to be valued at $17.68 billion.
Nokia and Microsoft have partnered up to release two variants of the Nokia 222 phone for under $40.
Both variants, the single and the dual SIM, have a $37 price tag before local taxes and subsidies, ZDNet reports. Both devices are set for a September release date and will be available in white and black.
The Nokia 222 variants also feature a 2.4-inch QVGA display, an 1100 mAh battery and a two-megapixel camera.
Audi, BMW and Daimler AG (the parent company of Mercedes-Benz) are set to purchase Nokia's "Here" application, which serves as a digital mapping service for drivers, USA Today reports.
The consortium of automotive giants purchasing the application are paying a sum of $3.07 billion. All three of the purchaser companies will split ownership of the application evenly.
"With this step, we complete the latest stage of Nokia's transformation," Nokia President and CEO Rajeev Suri told the site.
Nokia was reported to be in talks to sell its "Here" subsidy several months ago. The company confirmed in April that the application's gross margin is in the +75 percent range and that the op margin could get as high as 30-35 percent.
