Tax case not expected to affect Microsoft deal: Nokiahttps://indianexpress.com/article/business/business-others/tax-case-not-expected-to-affect-microsoft-deal-nokia/

Tax case not expected to affect Microsoft deal: Nokia

Last September, Microsoft had announced it will acquire almost all of the devices and services businesses of Nokia for $7.2 billion.

Finnish handset major Nokia has said the developments in the Rs 21,153-crore tax liability case in India is not expected to affect the “timing or closing” of its deal with software giant Microsoft.

Last September, the US-based firm had announced it will acquire almost all of the devices and services businesses of Nokia for $7.2 billion.

“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,” Nokia said in a statement late Friday night.

Earlier this week, Nokia’s chairman and interim CEO Risto Siilasmaa after meeting commerce minister Anand Sharma had said the Chennai factory, which is among assets to be transferred to Microsoft, would have to be shut down if the tax issue is not resolved.