Featured Articles

HP Stream is a Chromebook killer priced at $200

HP Stream is a Chromebook killer priced at $200

We have been hearing reports of a new breed of affordable Windows notebooks for months. It is alleged that a number…

More...
AMD Radeon R7 SSD line-up goes official

AMD Radeon R7 SSD line-up goes official

AMD has officially launched its first ever SSDs and all three are part of AMD’s AMD Radeon R7 SSD series.

More...
KitKat has more than a fifth of Android users

KitKat has more than a fifth of Android users

Android 4.4 is now running on more than a fifth of Android devices, according to Google’s latest figures.

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

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