When Microsoft announced plans to buy Nokia’s Devices & Services division for $7.2 billion in September, it foresaw the deal closing during the first quarter of 2014. It’s not going to happen inside that time-frame, however, as statements from the Finnish company and Microsoft explain that it should close in April.
Microsoft says the delay is because it is awaiting approval from anti-trust organizations in Asia:
We are nearing the final stages of our global regulatory approval process – to date we have received approvals from regulatory authorities in 15 markets on five continents. Currently, we are awaiting approval confirmation in the final markets.
Interestingly, Nokia denies that an ongoing tax investigation in India is holding things up. The company is protesting against an “absurd” tax bill from Indian state Tamil Nadu, which claims the phone-maker owes $414 million in unpaid duties.
The situation recalls Google’s deal to buy Motorola, which was held up in 2012 while waiting on clearance from Chinese authorities. Motorola has since been sold to Chinese firm Lenovo, ironically.
➤ An update on Nokia Devices and Services acquisition [Microsoft]
By Jhon Russel