Tue, 25 Mar, 2014 12:06:18 AM FTimes Report, March 25  File picture of Nokia smartphone. Photo – Lehtikuva. Nokia on Monday announced that it now expected the transaction, whereby the company would sell substantially all of its Devices & Services business and license its patents to Microsoft, to close in April 2014.
This compares with Nokia's previous expectation on the transaction closing in the first quarter of 2014, which Nokia communicated when the company first announced the transaction on September 3, 2013, said a Nokia press release.
The press release said that Nokia and Microsoft remain committed to the transaction.
As previously communicated, the closing of the transaction is subject to regulatory approvals and other customary closing conditions.
Nokia and Microsoft have already received most of the required regulatory approvals, including approvals from the European Commission and the US Department of Justice.
However, the transaction is pending approvals from certain antitrust authorities in Asia which are still conducting their reviews.
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Nokia reiterated that ongoing tax proceedings in India have no bearing on the timing of the closing or the material deal terms of the anticipated transaction between Nokia and Microsoft, according to the release
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