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Nokia delays closure of sale to Microsoft of smartphone business


anuseems

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Nokia has delayed to April the sale of its smartphone business to Microsoft as it still hasn't received approvals from certain antitrust authorities in Asia.

From Networkworld:

Microsoft said in September it plans to acquire Nokia's Devices & Services business, which includes the smartphone and mobile phones businesses, for over US$7 billion. The deal, which also includes licensing of patents by Nokia to Microsoft, was expected to close in the first quarter of this year.

Nokia said Monday the deal had already received most of the required regulatory approvals, including approvals from the European Commission and the U.S. Department of Justice. The two companies continue to make good progress related to the closing conditions and integration planning, Nokia said.

"We are nearing the final stages of our global regulatory approval process -- to date we have received approvals from regulatory authorities in 15 markets on five continents," wrote Microsoft's general counsel Brad Smith in a blog post announcing the delay in closure of the transaction.

http://www.networkworld.com/news/2014/032414-nokia-delays-closure-of-sale-279986.html

Edited by anuseems
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