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NewsPoster Mar 24, 2014 06:19 AM
Microsoft, Nokia expect $7.2B acquisition to complete in April
The acquisition of Nokia's mobile phone business by Microsoft will take longer than previously thought, with both companies expecting to complete the <a href=" y/" rel='nofollow'>$7.2 billion</a> sale in April. While the deal has received regulatory approval in the <a href="" rel='nofollow'>United States</a> and <ahref="">Europe</a>, pending approvals from "certain antitrust authorities in Asia" are causing the delay in closing the purchase. <br />
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<div align='center'><img class='mobile-img' src='' width='591' height='415' alt='Nokia Lumia Icon' border='0' pagespeed_url_hash="1520507265"/><br/><span class='minor2'>Nokia Lumia Icon</span></div><br />
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Brad Smith, General Counsel and Executive Vice President for Legal and Corporate Affairs at Microsoft, <a href="" rel='nofollow'>advises</a> that authorities from 15 markets on five continents have given the all-clear to the purchase. In the same post, Smith states the acquisition "will accelerate our mobile-first, cloud-first imperatives," as well as using the new resources to bring Windows Phone to more customers. <br />
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While the deal remains in regulatory limbo, Nokia is keen to <a href=" .not.affect.purchase/" rel='nofollow'>reiterate</a> in its <a href="" rel='nofollow'>statement</a> that the tax issues in India will "have no bearing on the timing of the closing or the material deal terms." Tax authorities in the country claim Nokia owes around <a href="" rel='nofollow'>$3.4 billion</a>, and have previously taken the step of <a href=" nue.unhindered/" rel='nofollow'>raiding</a> the company's Chennai factory, a facility that is set to be transferred as part of Microsoft's acquisition.
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