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Nokia finally gets Chinese Regulatory approval for Microsoft deal to boost its mobile business in China
TT Correspondent |  |  09 Apr 2014

Earlier this year, Chinese government put the Microsoft-Nokia deal on hold, but now they have officially given this deal the green light as announced by China’s Ministry of Commerce. Nokia and Microsoft have now received regulatory approvals from the People's Republic of China, the European Commission, the US Department of Justice and numerous other jurisdictions.

Nokia shares rose 2.9 percent to 5.48 euros after the approval announcment .

Nokia is also involved in a tax case in India related to its manufacturing plant in Chennai. India's Supreme Court ordered Nokia to pay a 35bn rupee ($572m) guarantee before it transfers its Chennai manufacturing plant to Microsoft as part of the sale of its devices and services unit.

However, the company said that the case won’t affect the sale of its handset business to Microsoft.

Google and Samsung had asked Chinese regulators to ensure that the deal with Microsoft would not lead to higher licensing fees, according to media reports.

But Nokia said that it had not been accused of unfair practices regarding its patents, reports, Reuters.

“The regulatory approval process has involved a thorough review of Nokia’s patent licensing practices by several competition authorities around the world. During that process, no authority has challenged Nokia’s compliance with its FRAND undertakings related to standard-essential patents or requested that Nokia make changes to its licensing program or royalty terms,” Nokia said in the statement.

    
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09 Apr 2014(IST)  
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