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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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