Microsoft is expecting to close the Nokia deal in April

Posted Mar 24, 2014

Microsoft announced it was buying Nokia’s Devices & Services division for $7.2 billion in September. The deal was expected to close in Q1 of 2014, but this will probably not happen in this time-frame. Statements from Microsoft and Nokia indicate that the deal should be closing in April. Microsoft said that the deal is delayed 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,” said Microsoft in a statement.

Nokia said that there are ongoing tax investigations in India that held up the deal from closing. Nokia pointed out that it received an “absurd” tax bill from the state of Tamil Nadu in India. The state claims Nokia owes $414 million in unpaid duties.

[Source: TNW]