Apparently the Nokia CEO holds over $3M in Microsoft stock. In addition to this obvious conflict of interest, EU is going to be interested in this attempt to make a Finnish corp dependent on a US corp.
But I would easily admit my naive ideas about could be wrong given the many things that happen under the radar these days...
Edit: Elop denies being "the seventh largest Microsoft shareholder" despite being listed as such but confirms the level of share-holding which the list has. He's certainly not the seventh largest share holder of any kind, he certainly holds far less than Bill gates but it seems clear he is the seventh largest individual shareholder with ~$3 in shares.
He is, at most, the ninth largest known individual shareholder. He can't get rid of said shares for regulatory reasons. Please see the discussion at http://news.ycombinator.com/item?id=2212555.
Whether or not he can get rid of his shares in the short term, what is good for Microsoft is good for his net worth which, it would seem, creates a conflict of interest.
http://finance.yahoo.com/news/Nokia-CEO-Elop-Denies-Being-si...