Motorola Mobility shareholders have overwhelmingly approved of a potential merger with Google, the next step in the deal that was first announced in August. Ninety-nine percent of all voting shares gave the green light to the merger, representing 74 percent of Motorola Mobility's total stock.

The deal, which despite Google's assurances could give Mororola handsets a leg-up over the rest of the Android phones on the market, still needs the blessing of regulatory agencies. However, unlike the potential AT&T and T-Mobile merger, the conventional wisdom is that there are enough healthy competitors for both Google's Android (iOS, WIndows Phone) and Motorola's hardware (HTC, Samsung, Nokia, etc.) that the deal won't have much trouble getting the approval of the SEC and other bodies (though this is not, of course, guaranteed).

Business risks identified in Motorola's official press release include the uncertain "closing date of the transaction," the ability of Google and Motorola to close the deal (though with 99 percent approval from Motorola's end, I doubt this will be an issue), and the approval of regulatory agencies. We'll keep tabs on this situation as it progresses.

Source: Motorola