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.
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.
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