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Print 4 comment(s) - last by atechfan.. on Mar 24 at 8:47 PM

Nokia says Asian regulators haven't given the needed approvals

Nokia has announced that it is expecting the deal that will see Microsoft buying its Devices & Services arm to close a month later than previously expected. Nokia now expects the deal to close in April 2014 instead later this month.
 
Before the deal can close, approval from regulators in Asia is required and those approvals are still outstanding (which in turn is causing the delay). Nokia also maintains the delay has nothing to do with ongoing tax proceedings in India.
 
Nokia says that it has received "most" of the needed approvals already including the go-aheads from the U.S. Department of Justice and European Commission.
 
For its part, Brad Smith, Microsoft’s General Counsel & Executive Vice President for Legal & Corporate Affairs, issued the following statement regarding the delay:
 
The completion of this acquisition will mark the first step to bring Microsoft and the Nokia Devices and Services business together. Our acquisition will accelerate our mobile-first, cloud-first imperatives. We’re looking forward to accelerating innovation and market adoption for Windows Phones and introducing the next billion customers to Microsoft services via Nokia mobile phones.
 
Microsoft offered $7.2 billion for Nokia's Devices and Services arm last September.

Sources: Nokia, Microsoft





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Why should any Asian regulators have a say?
By atechfan on 3/24/2014 6:28:28 PM , Rating: 2
An American company is buying a division of a European company. How does anyone in Asia have authority to regulate this?




By StevoLincolnite on 3/24/2014 7:37:22 PM , Rating: 2
Because, it's a "Global" company, there are usually localized offices in every major region.

Granted there is probably not much they will be able to regulate anyway, Nokia is now only a former shell of what it used to be, which is sad, they made some solid hardware.


By atechfan on 3/24/2014 8:47:56 PM , Rating: 1
http://www.zdnet.com/google-samsung-express-concer...

Looks like Google might be part of the reason why. Guess Google is afraid of little more competition?


No rush
By tonyswash on 3/24/14, Rating: -1
"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer
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