San Francisco, CA, United States (4E) – The long expected deal between Microsoft and Nokia will finally push through in April.
Back in September 2013, Microsoft announced the acquisition of Nokia’s Devices & Services division for $7.2 billion. The deal was supposed to become official sometime between January and March 2014.
The two companies admitted the delay was due to the pending approval of several anti-trust organizations in Asia.
“Nokia and Microsoft have already received most of the required regulatory approvals, including approvals from the European Commission and the U.S. Department of Justice.”
“…However, the transaction is pending approvals from certain antitrust authorities in Asia which are still conducting their reviews,” Nokia’s official press release stated.
But the deal is without controversy. In the same press release, Nokia is quick to dismiss that the delay is caused by an ongoing tax investigation in India. The country is accusing Nokia of owing the government $414 million in unpaid taxes.
“Nokia reiterates that ongoing tax proceedings in India have no bearing on the timing of the closing or the material deal terms of the anticipated transaction between Nokia and Microsoft,” the press release added.
With the acquisition, Microsoft is aiming to target “mobile-first, cloud-first imperatives” in hopes of competing against rivals Google and Apple.