Microsoft and Nokia were close to a buyout deal

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The well known paper  The Wall Street Journal is now reporting that Microsoft and Nokia were in advanced discussions about a Microsoft  purchase of the phone making part of the Finnish company, but the talks have failed to lead to an agreement.

Citing “people familiar with the matter” the online paper notes that discussions eventually broke down due to “the price and Nokia’s own strategic predicament”.

Deliberations were evidently held in London as recently as this month, but due to the talks faltering, they likely won’t be revived anytime soon. The WSJ also adds that both companies were close to an oral agreement with Microsoft purchasing the device division of Nokia, using some of Redmond’s reported $66 billion held in off-shore businesses. That method would have let Microsoft avoid a hefty tax penalty for purchasing the massive phone maker.

Lets see if Microsoft will buy another phone maker in the near future in order to increase their market share for Windows Phone.