Nokia said that due to an ongoing tax dispute its Indian mobile phone handset plant was unlikely to be included in a deal due to be concluded on Friday for the sale of its global handset business to Microsoft. Nokia will instead operate the factory as a contract manufacturing unit for Microsoft after the deal, a spokeswoman for the Finnish companys Indian unit said on Thursday. Its highly unlikely that the plant will transfer, given that the (deal) closing with Microsoft is tomorrow, the spokeswoman said. If the asset doesnt get transferred, we are entering into a service agreement with Microsoft. Nokia has yet to agree to conditions set by an Indian court, including payment of a guarantee for potential tax dues in a dispute with Indian authorities, before it transfers the plant to Microsoft.
Nokia says India plant unlikely to be part of Microsoft deal
24
Apr
2014
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