You can read the press release on this link: http://www.novell.com/news/press/item.jsp?id=1196
In a way Microsoft will be acting as a reseller for Novell.
This might be an interesting partnership which would bring the best of two worlds for customers: user-friendliness of Windows and reliability of Linux.
On the other hand I see little interest for Microsoft to promote competing operating system.
Anyway, let's hope that this partnership will be fruitful and bring some interesting products on the market.