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Wireless

Nokia offers India EUR 355 mln to transfer factory - report

Tuesday 10 December 2013 | 13:38 CET | News
Nokia is ready to pay at least EUR 355 million to India's tax authorities to enable the transfer of a factory in the country to Microsoft, two people familiar with the matter told Bloomberg. Nokia is willing to deposit at least EUR 270 million on top of an already announced amount of EUR 85 million if India's government allows the shifting of assets including the manufacturing plant in Chennai, said the people. The assets were frozen in September because of a tax dispute. Earlier that month, Nokia agreed to sell its mobile-phone business to Microsoft in a EUR 5.44 billion transaction to focus

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Categories: Mobile & Wireless
Companies: Microsoft / Nokia
Countries: India
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