Nokia agreed in September to sell its devices and services business and license its patents to Microsoft for 5.44 billion euros after failing to recover from a late start in smartphones.
The sale, which is expected to close in the first quarter of next year after regulatory approvals, is set to boost Nokia's net cash position to nearly Euro 8 billion from around Euro 2 billion in the third quarter and allow it to return cash to shareholders, possibly through a special dividend.
Without the loss-making handset business, the remaining company will earn over 90 percent of sales from telecom equipment unit Nokia Services and Networks and will also include a navigation software business and a trove of patents.
Since the Microsoft deal was announced, Nokia shares have doubled, closing at 6.00 euros on Monday.
Last year, they fell as far as 1.33 euros, a level not seen since 1994, on worries the mobile phone business would burn through cash before it could ever catch up with rivals such as Samsung Electronics and Apple Inc.
Billionaire and activist investor Daniel Loeb said in October that he had taken a position in Nokia and that he expects a 'meaningful portion of the excess' cash from the Microsoft deal to be returned to investors.
While approval from shareholders is considered a done deal, Tuesday's meeting, which starts at 2:00 pm (1200 GMT)
The MISTAKES that proved costly for Nokia, Infosys
Hyderabad man in race for Microsoft's top job
COLUMN: Why is it hard for founders to step down?
Bill Gates, Ballmer seek re-election to Microsoft board
Hyderabad man in race for Microsoft's top job