John C. Dvorak thinks Microsoft will buy Nokia but he does not recommend it, see PC Mag. Excerpt:

Microsoft Should Not Buy Nokia
The headline of this column is for the benefit of both Nokia and Microsoft. Nokia, as I've explained before, should abandon the Windows platform and move to Android ASAP. That's the way I see things from Nokia's perspective. From Microsoft's perspective, I'd say, "Why buy the cow when the milk is free?" Microsoft essentially owns Nokia now.

At least, that is what some financial writers seem to think. Rocco Pendola of TheStreet.com writes:

For all intents and purposes, Microsoft can have its way with Nokia. The Fins were smart to give themselves, unconditionally, to the Americans from the Pacific Northwest. While I understand the two companies have an agreement in place that governs their partnership, everybody, including Nokia, knows who dominates this relationship.
So why would Microsoft want to buy Nokia with this sort of thing in place? Well, harkening back to the free milk from the cow, perhaps someone should consider the fact that the cow is starving to death and nobody seems to give a [put your favorite swearword here]. If Microsoft is going to buy the company, is it going to buy it at a bankruptcy auction? What is it waiting for?

As an aside, I would like to mention that nobody has ever benefited from a partnership with Microsoft. Maybe one of my readers can help me out, but I cannot find any examples. Even IBM lost out when it was working with Microsoft. FrontPage, one of the first webpage editors, was decimated after Microsoft bought it. A common theme, it seems. The only thing that thrives at Microsoft is Microsoft Windows and Microsoft Office.

So exactly how would Nokia benefit from a Microsoft buyout? The cultural differences are enough to sink Nokia. I sure do not see such a deal bringing down Microsoft. You can imagine all the work that would go into such a massive deal: Continuing with a huge push for more sales of the Windows Phone, eventual failure, the shuttering of Nokia. Then Microsoft would say, "Oh well. We tried. It was Nokia's fault the Windows Phone died. It was a bad idea to buy Nokia."

Meanwhile, Finland loses Nokia.

This is all inevitable if the Finns do not do something to stop it. The country could apparently, on its own, stop the Russian army, but it cannot stop Microsoft.