Featured Articles

Nvidia GTX 980 reviewed

Nvidia GTX 980 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Nvidia adjusts GTX 980 and GTX 970 pricing

Nvidia adjusts GTX 980 and GTX 970 pricing

It appears that Nvidia has been feeling the pulse of the market and took some note from comments regarding the original…

More...
iPhone 6 and 6 Plus reviews are up and they are good

iPhone 6 and 6 Plus reviews are up and they are good

Apple is dancing the same dance year after year. It releases the iPhone and two days before they start shipping it…

More...
Amazon announces three new tablets

Amazon announces three new tablets

Amazon has just released three new tablets starting with the $99 priced 6-inch Kindle Fire HD6. This is a 6-inch tablet…

More...
PowerColor TurboDuo R9 285 reviewed

PowerColor TurboDuo R9 285 reviewed

Today we will take a look at the PowerColor TurboDuo Radeon R9 285. The card is based on AMD’s new…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 13 December 2013 11:05

Nokia has its assets Indian assets unfrozen

Written by Nick Farrell


 
Can be transferred to Microsoft

Nokia won an appeal in the Delhi High Court today to unfreeze the assets of its Chennai mobile phone factory, allowing the company to transfer it to Microsoft.

Nokia lobbied to have the factory unfrozen by today in an effort to keep the Microsoft transfer on track and avoid operating as a subcontractor of the factory while the tax dispute played out.

As a condition of the appeal, Nokia is depositing US$367 million in an escrow account to put toward its forthcoming tax liability imposed by the Indian government, which could total more than $3.4 billion.

This tax battle will not affect the $7.4 billion Microsoft deal though, planned to be closed in the first quarter of 2014. It would just have made things a little more complicated than they needed to be.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments