The Nokia-Microsoft deal that will see the former’s handset business find a new home at the latter is still a go, and should wrap in the first quarter of this year. That gives the deal around 1.5 months to get itself over the finish line.
Nokia today released a statement to that effect, emphasizing that a tax squabble in India would not impact the closing of the deal. In full, here are Nokia’s remarks:
Nokia would like to stress that recent developments in India related to ongoing tax proceedings are not expected to affect the timing of the closing nor the material deal terms of the anticipated transaction between Nokia and Microsoft, announced on September 3, 2013.
The transaction is still expected to close in the first quarter of 2014, subject to regulatory approvals and other customary closing conditions, irrespective of the proceedings in the Indian tax case.
I’ve heard nothing around the edges indicating that the deal shouldn’t close in the above-noted time period.