Nokia passes major obstacle in market

I talked about the sale of Nokia to Microsoft a few weeks ago, and it seems to be underway, however with a major hurdle pulled from its way. The Indian Authorities seized one of Nokia's largest manufacturing plants back in September, over some tax disagreements. Now the Nokia is Microsoft's property, and all of Nokia's Manufacturing plants, factories, offices ultimately belong to Microsoft, they needed this plant back, as it was one of the most prosperous and made most of the products.

The Indian Court has now authorised the removal of the freeze they placed on the plant located in Southern India, Chennai. Microsoft/Nokia must deposit 22.5 billion rupees (or $364 million) into a bank account in order to successfully acquire the plant. 

After the factory is regained, it will be transferred to Microsoft, which will complete a major task, in the sale of Nokia, to Microsoft.

http://www.indianexpress.com/news/nokia-seeks-delhi-hc-help-get-back-factory-seized-in-tax-dispute/1197839/

Source(s):

http://www.bbc.co.uk/news/world-asia-india-25345597