Microsoft Nokia Deal Still On Track For Q1 2014 ConclusionMicrosoft’s deal to acquire Nokia is expected to conclude in 2014, although there were some concerns and objections raised by the Indian government that could have potentially thrown a wrench into the deal, but according to a recent press release from Nokia, it looks like the acquisition is still on the table and is proceeding as planned and is expected to close by the end of the first quarter of 2014. According to earlier rumors, the conclusion of the deal was expected to be announced at MWC 2014 alongside Nokia’s announcement of a new hardware brand, but based on the wording of the press release, it would seem that we might still have a while to go.

According to Nokia’s press release, “Nokia would like to stress that recent developments in India related to ongoing tax proceedings are not expected to affect the timing of the closing nor the material deal terms of the anticipated transaction between Nokia and Microsoft, announced on September 3, 2013.” The dispute Nokia has in India is with the government who claims that Nokia owes them taxes up to $1.1 billion. Nokia has attempted to appease the Indian government by offering them $369 million to unfreeze its assets, sort of as a show of good faith in order to allow the deal to proceed which would see Nokia transferring its factory in Chennai over to Microsoft.

This article was filed in Homepage > Cellphones and was tagged with Microsoft and Nokia.
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