The sale of Nokia’s main handset business has been pushed back to April as the Finnish vendor reportedly faces pressure in China to lower its patent fees.
The group had previously anticipated closing the €5.4bn (US$7.16bn) sale to Microsoft in Q1…
The sale of Nokia’s main handset business has been pushed back to April as the Finnish vendor reportedly faces pressure in China to lower its patent fees.
The group had previously anticipated closing the €5.4bn (US$7.16bn) sale to Microsoft in Q1 2014, but said today “the transaction is pending approvals from certain antitrust authorities in Asia which are still conducting reviews”.
China is understood to be one of the last remaining markets that have yet to rule on the deal. Reports speculate that the delay could mean Nokia will be forced to make concessions over the patents that will remain with the Finnish group after the deal is closed.
Nokia declined to comment on the rumours, but said it was confident that all the reviews will give the green light, after getting the nod from regulators including the European Commission and the US Department of Justice.
Microsoft general counsel Brad Smith said in a blog post that the deal had so far received 15 approvals on five continents.
Nokia also faces legal tangles in India, where it is subject to a reported €300m fine over tax issues relating to a factory it has in Chennai, in the southern state of Tamil Nadu. The vendor recently said it will “defend itself vigorously in this matter”.
