Microsoft Corporation (MSFT): Indian court to make ruling about Nokia plant on Thursday

Posted Dec 11, 2013

A court in India is expected to make a ruling tomorrow that could affect whether Nokia can be free to transfer a factory that makes phones to Microsoft Corporation (NASDAQ:MSFT). Microsoft may have to pay as much as $3.4 billion in disputed taxes. The Nokia plant in Chennai, India is one of Nokia’s largest phone manufacturing factories, but it was seized by authorities because of tax claims. Nokia appealed the seizure. The company has been trying to end the dispute since before the sale to Microsoft as part of a $7.4 billion deal.
[Source: Globe and Mail]