Microsoft Nokia Takeover Is Delayed Until April
Completion of the Microsoft Nokia deal is delayed until it receives approval from Asian regulators
Microsoft’s acquisition of Nokia’s devices and services business will not be completed until next month, the two parties have confirmed, as the deal waits for final approval from regulators in Asia.
The takeover has already received the go-ahead from the US Federal Trade Commission and the US Department of Justice, as well as the European Commission, but it has not yet received the blessing of certain antitrust authorities in Asia, meaning it will not be completed in the first quarter.
Both parties have said they are still committed to the deal, with Microsoft saying it is excited at the prospect of joining forces with the Finnish manufacturer.
Nokia Microsoft deal
“We are nearing the final stages of our global regulatory approval process – to date we have received approvals from regulatory authorities in 15 markets on five continents,” says Brad Smith, general counsel & executive vice president of legal & corporate affairs at Microsoft. “Currently, we are awaiting approval confirmation in the final markets. This work has been progressing, and we expect to close next month, in April 2014.”
It has been reported that the deal was running into some resistance in China amid fears from Chinese phone manufacturers, including Lenovo, Xiaomi and ZTE, as well as Samsung and Google, that the takeover will result in higher patent licensing fees.
It is understood that China’s Ministry of Commerce is likely to approve the acquisition, but is unclear whether it will demand assurances that the completion of the deal won’t result in higher patent fees. The EC has already said it will monitor Nokia’s behaviour after the deal is completed.
Do you know all about Nokia? Take our quiz.
