AAPL Stock: 118.15 ( -0.15 )

Printed from

Microsoft, Nokia expect $7.2B acquisition to complete in April

updated 06:19 am EDT, Mon March 24, 2014

Transfer of Nokia mobile phone business to Microsoft delayed by Asian regulators

The acquisition of Nokia's mobile phone business by Microsoft will take longer than previously thought, with both companies expecting to complete the $7.2 billion sale in April. While the deal has received regulatory approval in the United States and Europe, pending approvals from "certain antitrust authorities in Asia" are causing the delay in closing the purchase.

Nokia Lumia Icon
Nokia Lumia Icon

Brad Smith, General Counsel and Executive Vice President for Legal and Corporate Affairs at Microsoft, advises 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.

While the deal remains in regulatory limbo, Nokia is keen to reiterate in its statement 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 $3.4 billion, and have previously taken the step of raiding the company's Chennai factory, a facility that is set to be transferred as part of Microsoft's acquisition.

by MacNN Staff



Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented