Nokia asks Indian authorities to “work constructively and with the utmost urgency” as Microsoft deadline approaches | beyondbrics:
"Nokia, the Finnish telecoms group, asked the Delhi High Court on Thursday to release factory assets frozen by tax authorities this year, as it prepares to hand its mobile devices unit to Microsoft.
Back in September Microsoft announced plans to buy the loss-making business from cash-strapped Nokia for €5.4bn. But in India, the deal faces a small complication: a $321m tax dispute in which Nokia’s local assets were frozen. Bank accounts have subsequently been released but fixed assets – including a factory in Chennai – remain stuck in limbo.
As James Crabtree wrote in the FT last month:..............."
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