Nokia's India plant in Chennai may be left out of Microsoft deal

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Finnish phone maker Nokia may have to exclude its Chennai plant from the USD 7.2 billion deal with Microsoft if tax issues facing the India unit are not resolved by next week. Reuters Finnish phone maker Nokia may have to exclude its Chennai plant from the USD 7.2 billion deal with Microsoft if tax issues facing the India unit are not resolved by next week. Reuters
SummaryFinnish phone maker Nokia may have to exclude its Chennai plant from the $7.2 bn deal with Microsoft.

of 12 months and in itself the assets here will have little value.

Last month, Nokia shareholders overwhelmingly approved the sale of its mobile phone and services division and licence to a patent portfolio to Microsoft for USD 7.2 billion.

The transaction is expected to close in the first quarter of 2014, subject to regulatory approvals and other customary closing conditions. The transaction was originally announced on September 3, 2013.

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