Helsinki: Nokia said that it expected the 5.4 billion euro ($7.5 billion) sale of most of its phone business to Microsoft will close in April. It had even previously stated that it expected the deal to close in the first quarter. Microsoft has also said it expected the deal to close in April.
Nokia has received approvals from the European Commission and the US Department of Justice, but some antitrust authorities in Asia are still conducting their reviews. "We are nearing the final stages of our global regulatory approval process," said Brad Smith, Microsoft's general counsel, said on the company's website. "Currently we are awaiting approval confirmation in the final markets."
It reiterated that its tax disputes in India would not have an impact on the deal schedule. This company was also given a new $414 million tax claim by Indian authorities, following a recent Supreme Court decision to order Nokia to give a $571 million guarantee before transferring its Chennai factory to Microsoft.
