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AP Photo/Manu Fernandez
The Nokia XL, one of the new Android devices the company revealed at Mobile World Congress last month.
dragging on
Nokia will have to wait until next month before Microsoft deal passes
The deal has been approved by EU and US authorities but has been delayed until next month as it waits for approval from regulatory authorities in Asia.
NOKIA SAYS THE sale of its mobile phone unit to Microsoft will be delayed until next month because it is still waiting for approval from regulatory authorities in Asia.
The Finnish company said that the €5.4 billion ($7.3 billion) deal announced in September and expected to be completed in the first quarter of 2014, has been approved by the EU and US authorities but “certain antitrust authorities In Asia” were still reviewing the deal.
Last week, Nokia said it was contesting a legal case in Madras, India, by local authorities who want Nokia to pay sales tax on the export of devices made at Nokia’s plant in Chennai.
Legislation in some countries requires local regulatory approval for transactions that affect companies in the region.
The deal, which was announced last September, cost Microsoft €5.44 billion to purchase Nokia’s device and services business as well as its patents.
Last month, Nokia made its first steps into Android by launching its X range of smartphones at the Mobile World Congress in Barcelona. Aimed at first-time buyers, the phones work similarly to the Lumia range, replacing Google products with Nokia and Microsoft’s own versions such as Skype and Outlook.com.
(Additional reporting by Quinton O’Reilly)
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