Nokia and Microsoft today announced that the two companies expect their deal to buy Nokia’s handset and services business to close in April. The $7.2 billion buyout, which was announced in September last year, was earlier expected to close by the end of March. Also Read - Cyberpunk 2077 back on Sony's PlayStation Store, with a special warning for PS4 owners
Nokia maintained that the delay has nothing to do with the ongoing tax proceedings in India. “Nokia reiterates 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,” the Finnish phone maker said in a statement. Also Read - Windows 11: Release date, top features to expect, how to upgrade and more
The delay has been attributed to certain antitrust authorities in Asia that are still reviewing the acquisition. Nokia and Microsoft have received approvals from the US and European Union authorities. Also Read - Windows 11 could be a free upgrade for you provided you fall in this category
The two companies are now expecting the deal to close next month and are confident that the transaction would close resulting in the transfer of all of Nokia’s devices and services business to Microsoft.