The Finance Insider blog

Search This Blog

Blog Archive

The Finance Insider

Thursday, December 12, 2013

Indian court lifts freeze on Nokia factory.

An Indian court has agreed to unfreeze a phone-making factory owned by Nokia (NOK) so that it can complete the sale of its handset unit to Microsoft (MSFT). Authorities seized the plant following a tax dispute. Nokia will deposit 22.50B rupees ($367.17M) in an escrow account as a condition for lifting the freeze and transferring the factory to Microsoft.

No comments:

Post a Comment