Microsoft-Nokia deal delayed until April

Microsoft says that the completion of the purchase of Nokia’s handset business will be delayed until the end of April. The Redmond giant’s buyout of Nokia’s devices and services group was first announced in September 2013. Set to go ahead for $5 billion, with roughly $2.17 billion spent on licensing Nokia patents, Microsoft will not only acquire Nokia’s handset-making business once the deal is finalized, but will also be able to use the firm’s patents and mapping services.

Microsoft’s push into the cellphone business will have to wait just a little bit longer. The American technology giant said on Monday that its 5.4 billion euro, or $7.5 billion, takeover of Nokia’s handset business was now expected to close in April. The deal, which will allow Microsoft to expand its presence in the global smartphone market to compete directly with the likes of Apple and Samsung, had been expected to be completed by the end of March. Microsoft said the delay was due to outstanding regulatory approval from a number of authorities. That includes regulators in Asian countries like China, according to people with direct knowledge of the matter who spoke on the condition of anonymity because they were not authorized to discuss the issue publicly.

Read full article

Comments