Rajnath Singh refuses to pinpoint blame about 'rumours' on son

Rajnath Singh refuses to pinpoint blame about 'rumours' on son

There has been some reports of Rajnath Singh's son being ticked off by PM Narendra Modi...
New Flight MH 370 theory

New Flight MH 370 theory

Malaysia Airlines Flight MH370 may have turned south earlier than previously thought

Nokia sees closure of Microsoft deal delayed until April

Mar 25 2014, 00:55 IST
Comments 0
SummaryNokia said it expected the 5.4-billion-euro ($7.5 billion) sale of most of its phone business to Microsoft will close in April.

Nokia said it expected the 5.4-billion-euro ($7.5 billion) sale of most of its phone business to Microsoft will close in April.

Nokia had previously said 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, it said in a statement.

“We are nearing the final stages of our global regulatory approval process,” Brad Smith, Microsoft’s general counsel, said on the company’s website. “Currently we are awaiting approval confirmation in the final markets.”

Nokia reiterated that its tax disputes in India would not have an impact on the deal schedule.

The company last week was 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.

The length of time needed to close the deal, announced last September, is not exceptional for Microsoft, which took five months to complete its purchase of online chat company Skype in 2011.

Ads by Google

More from International

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...