What could Nokia have done with this amount of money and MeeGo ? Unfortunately we will never know.
Nokia has placed all bets firmly on MicroSoft for their SmartPhone platform and it is still unclear what USP this marriage of two failing companies in the SmartPhone sector will bring. I recall one of my conversations will a Nokia employee in which he stated that it took him almost 30 days to appreciate some of the nice features of Windows Phone, which blew my mind. If a product hasn't got some of my interest / attention in the first 30 seconds then its not for me.
It will be interesting times ahead as we see Nokia Window Phones emerge and also some true Meego handsets to challenge and hopefully slaughter them.
Source for Figures