Nokia-Microsoft acquisition deal delayed

Both parties say transaction likely to close in April

Tags: FinlandMergers and acquisitionsMicrosoft CorporationNokia CorporationUSA
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Nokia-Microsoft acquisition deal delayed Microsoft last year agreed to pay $7.5bn for Nokia’s devices business.
By  Stephen McBride Published  March 23, 2014

Microsoft's acquisition of Nokia's devices business is now expected to close in April, despite previous statements from Nokia that the deal was expected to complete in the first quarter.

Microsoft last year agreed to pay $7.5bn for Nokia's smartphone manufacturing unit and license the Finnish company's patents.

According to a report from Reuters, the US Department of Justice and the European Commission have both approved the transaction, but similar authorities in some Asian markets have yet to finish their reviews.

"We are nearing the final stages of our global regulatory approval process," Brad Smith, Microsoft's general counsel, said on the company's website. "Currently we are awaiting approval confirmation in the final markets."

Last week Nokia was presented with a $414m tax claim by Indian authorities, but the company said this would not delay the deal.

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