asset freeze

Mircrosoft-Nokia merger a go after Indian court lifts asset freeze order

Despite releasing the local assets back to Nokia Oyj, the Delhi High Court clarified that the Finnish company will still be liable to any remaining tax bills from the local mobile phone plant that Microsoft will be acquiring.

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Nokia to shell EUR355 million to India to transfer its domestic unit to Microsoft - sources

Sources noted that Nokia Oyj is in danger of finding a new buyer for its mobile handset business if it failed to lift the freeze on its Indian assets to be able to transfer them to Microsoft as part of its acquisition agreement.

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