The sale of Nokia's handset business to Microsoft won't now go
through in the first quarter as originally planned but should
complete next month as they await approval from Asian
regulators.
The companies have received most of the required regulatory
approvals, including from the European Commission and the U.S.
Department of Justice, while they said they are making good
progress with closing conditions and integration planning.
However, some Asian competition authorities are still conducting
reviews.
The companies said they remain confident the transaction will
close and reiterated that ongoing tax proceedings in India have no
bearing on the timing or the material deal terms of the sale.
The deal, originally announced in September last year, will see
Microsoft buy substantially all of Nokia's Devices & Services
business as well as patent licenses for EUR5.4 billion ($7.45
billion).
Write to Dominic Chopping at dominic.chopping@wsj.com
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