Microsoft Nokia Deal To Be Finalized In April 2014

Delayed by a week? No big deal, right? Microsoft first announced the Nokia takeover back in September 2013 saying that the purchased should be complete in early 2014.

Most expected this to be first quarter of this year.

Microsoft provided an update on the proceeding in a blog post, with Brad Smith, general counsel & executive vice president, Legal & Corporate Affairs saying that the company is now receiving approval in the final remaining markets:

“We wanted to provide a brief update on the status of the regulatory process for approval of Microsoft’s acquisition of the Nokia Devices and Services business. 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.”

My, my, 15 regulatory bodies on 5 continents. But it should be done soon:

“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.”

Nokia also provided an update on the situation via a press release, without solidifying a concrete closing date, except the month of April. The transaction has received approvals from the European commission along with the United States Department of Justice.

But the deal has been facing slight resistance in South Korea, the home country of a leading mobile hardware manufacturer. Both Microsoft and Nokia remain confident, though, very confident.

Besides, such lengthy timespans are not new for Redmond — the company took five months to complete its purchase of Skype back in 2011.

Please Leave Your Comments Below...