Breaking News Bar
updated: 3/24/2014 7:12 AM

Nokia deal with Microsoft delayed until April

hello
Success - Article sent! close
  • Nokia Corp. says the sale of its mobile phone unit to Microsoft will be delayed until next month because it is still waiting for approval from regulatory authorities in Asia.

      Nokia Corp. says the sale of its mobile phone unit to Microsoft will be delayed until next month because it is still waiting for approval from regulatory authorities in Asia.
    Bloomberg

 
Associated Press

HELSINKI -- Nokia Corp. says the sale of its mobile phone unit to Microsoft will be delayed until next month because it is still waiting for approval from regulatory authorities in Asia.

The Finnish company said Monday that the 5.4 billion euros ($7.3 billion) deal announced in September and expected to be completed in the first quarter of 2014, has been approved by the EU and U.S. authorities but "certain antitrust authorities In Asia" were still reviewing the deal.

Last week, Nokia said it was contesting a legal case in Madras, India, by local authorities who want Nokia to pay sales tax on the export of devices made at Nokia's plant in Chennai.

Legislation in some countries requires local regulatory approval for transactions that affect companies in the region.

Share

Interested in reusing this article?

Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.

The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.

Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Name * Company Telephone * E-mail *

Message (optional)

Success - Reprint request sent Click to close
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here