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Nokia, Microsoft Deal Pushed Back To April

Espoo, Finland – Nokia pushed back until April its planned sale of substantially all of its cellular handset business and patents to Microsoft because antitrust authorities in Asia are still conducting reviews. 3/24/2014 05:22:00 AM Eastern

Espoo, Finland – Nokia pushed back until April its planned sale of substantially all of its cellular handset business and patents to Microsoft because antitrust authorities in Asia are still conducting reviews.

The companies had planned to close the transaction in the first quarter when the deal was announced last September.

Nokia said it and Microsoft “remain committed to the transaction.”

Nokia also said it and Microsoft have received most required regulatory approvals, including approvals from the European Commission and the U.S. Department of Justice. Nokia also said it and Microsoft “continue to make good progress related to the closing conditions and integration planning.”

A tax dispute between Nokia and India authorities has “no bearing on the timing of the closing or the material deal terms of the anticipated transaction between Nokia and Microsoft,” Nokia added.