Software giant Microsoft Corp. (MSFT) was recently in advanced talks with Nokia Corp. (NOK) to buy the Finnish mobile phone maker's device business, the Wall Street Journal reported Wednesday, citing people familiar with the matter.
The talks, which took place as recently as this month, have faltered and are not likely to be revived, the Journal quoted the people as saying.
According to the Journal, the two sides held their discussions in London and were close to an oral agreement about a combination, one of the people said.
Redmond, Washington-based Microsoft struck a deal more than two years ago for Nokia to use Microsoft's Windows Phone software exclusively to power Nokia smartphones.
There were reports earlier this week that Chinese smartphone maker Huawei Technologies Co. Ltd. would be interested in acquiring Nokia.
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