Microsoft to Complete Nokia Takeover in Q1 2014

Nokia has confirmed that the purchase won’t be affected by tax disputes

Microsoft has announced plans to take over Nokia approximately six months ago, but the $7.2 billion (€6.5 billion) is yet to be completed.

With a deadline of Q1 2014, Nokia claims that the deal will still go through in the coming months, despite the ongoing tax disputes that are taking place in India over a local factory.

In a press release issued today, Nokia explains that talks are still going as planned and the transaction is expected to close in the first quarter of this year.

“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 transaction is still expected to close in the first quarter of 2014, subject to regulatory approvals and other customary closing conditions, irrespective of the proceedings in the Indian tax case,” the press statement reads.

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