New Delhi : Finnish handset maker Nokia said its $7.2 billion deal with software giant Microsoft is expected to be delayed by a month and will now be finalised by April due to pending regulatory approvals from some antitrust authorities in Asia. The handset maker, which is facing multiple tax cases in India, added that the proceedings in the country will not affect the timing of the deal.
Last September, Nokia had announced it would sell a substantial part of its devices and services (D&S) business, including assets in India, to Microsoft for $7.2 billion by March 2014.
Meanwhile, a senior finance ministry official said that Nokia India Pvt Ltd so far has not come to the Central Board of Direct Taxes (CBDT) with a concrete proposal to settle its tax row with the department. Nokia is fighting a Rs 21,000-crore claim by the Income Tax Department over royalty payments made to its parent company in Finland.