Nokia, Microsoft to seal deal in April despite India tax issues
Chennai: There were some apprehensions in the minds of a few people whether the Nokia-Microsoft deal will be consummated or not, but now it seems that both are working overtime to sign it before April end.
Last month there were rumors that the two companies were set to sign the deal, but then there were some more delays obviously to a host of issues that the companies have to sort out. There were several issues that both had to sort out including some tax related issues that Nokia was confronting in India.
Indian Taxmen had sent a huge 300 million Euro tax bill to Nokia alleging that the handsets manufactured at the company's Chennai, Tamil Nadu, plant that were meant to be exported were being distributed within India. The company has denied the allegation and the case is going to take time to be resolved. There is no denying the fact that the 300 million Euro is a huge amount and at one time it seemed that it may derail the whole merger plan.
Though for a long time many people were claiming that Nokia will merge in Microsoft, but it was in September last year that the Redmond giant Microsoft said it was ready to buy Nokia's phone business for $7.2 billion. Reports suggest that the Finnish giant instead of handsets will put more focus on network equipment.
In the meantime Nokia and Microsoft top honchos have released a joint release focused on consumers. "Nokia currently expects to complete the sale of its Devices & Services business to Microsoft in April 2014", it said. "Microsoft cares deeply about your privacy and the protection of your personal data and will continue to collect and use your personal data in the same ways and for the same reasons as Nokia, and you should experience no difference as a result of the sale", Nokia and Microsoft officials said in the press release addressed to the company's consumers.
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