New Delhi: Nokia said it expects the sale of its handset business to Microsoft to be finalised on April 25, as it had received all the required regulatory approvals.
The closure of the 5.4 billion euro deal, which was agreed in September, had been delayed due to pending approvals, but earlier this month the companies won a crucial nod from Chinese regulators.
Last September, Nokia had announced it would sell a substantial part of its devices and services (D&S) business, including assets in India, to Microsoft for $7.2 billion by March 2014.
The handset and other asset components under the deal will be handed over to Microsoft's Finnish entity Microsoft Mobile Oy.
Nokia is entangled in tax dispute with Indian authorities over its Chennai handset manufacturing plant which employs about 6,600 people.
The company has often indicated that transfer of Chennai plant with over all Nokia handset business may be adversely impacted if the dispute remains unresolved.
Recently the company offered voluntary retirement scheme to its employees in Chennai and about 700 employees till date are learnt to have opted for it.
Nokia India spokesperson, however, declined to confirm the number.
The notice was issued by both the companies to assure consumers that data protection and privacy would be maintained under Microsoft as was done by Nokia.
"Microsoft cares deeply about your privacy and the protection of your personal data and will continue to collect and use your personal data in the same ways and for the same reasons as Nokia, and you should experience no difference as a result of the sale," the notice said.
(With inputs from Agencies)
Comments
0 comment