Nokia agrees to sell handset business for 5.44billion Euros to MS. This equates to 25% of current market cap, so at 5.9EUR, 1.5EUR is the cash from MSFT, the rest EUR4.4 is the value of their on going business in networks etc.
2CentView FV for the on going business is 4. 4.4 equates to 14% implied 5Y Growth so not overly expensive, if you believe Nokia can make a success of this business. The Cash injection should help!