Microsoft acquisition of Nokia phone business delayed

MANILA, Philippines – Microsoft won’t have Nokia’s handset business in the bag by the end of March as previously expected. On Monday, March 24, both companies announced delays in the acquisition with a takeover now expected to happen in April 2014. 

Both companies gave assurances that “Nokia and Microsoft remain committed to the transaction.”

In an official blog post, Microsoft said of the acquisition: “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 5 continents. 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 was more specific, saying the approval of “certain antitrust authorities in Asia” was the cause of the delay, but clarified that the “ongoing tax proceedings in India have no bearing on the timing of the closing.” 

The sale of Nokia’s Device and Services business to Microsoft will allow the California-based tech giant to produce its own Windows Phone hardware and not rely solely on 3rd party manufacturers. 

The company said the acquisition will allow them to “accelerate innovation and market adoption for Windows Phones and introduce the next billion customers to Microsoft services via Nokia mobile phones.” – Rappler.com