0
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

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Microsoft / Nokia
Countries: India
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Nokia seeks arbitration in Indian tax dispute

Published 15 May 2014 11:02 CET | India
India is seeking international arbitration with India's government over the tax dispute that prevented the transfer of its main ...

Supreme Court rejects Nokia's appeal

Published 17 Mar 2014 02:55 CET | India
India's Supreme Court has rejected Nokia's appeal against a Delhi High Court order which directed the company to give a guarantee ...

Court seeks valuation of Nokia India assets in tax case

Published 14 Mar 2014 02:23 CET | India
India's Supreme Court is seeking a valuation of the assets of Nokia India before examining the dispute between Nokia and the ...

Nokia loses court ruling in Indian tax dispute

Published 12 Feb 2014 15:18 CET | India
Nokia faces a setback in plans to transfer its Indian handset assets to Microsoft, after a new court ruling set additional ...

Court rejects order for Nokia to put INR 35 bln in escrow

Published 27 Jan 2014 01:43 CET | India
The Delhi High court has rejected the request of India's income tax department to order Nokia to deposit INR 35 billion into an ...

Nokia wins reprieve in India tax battle

Published 12 Dec 2013 13:26 CET | India
Nokia has won a crucial reprieve in its tax battle with India's government, with a court in New Delhi ruling that the group can ...

Indian tax dept rejects Nokia's offer to pay INR 22.5 bln

Published 03 Dec 2013 15:15 CET | India
India's Income Tax (IT) Department has told the Delhi High Court that the offer by Nokia to pay a minimum deposit of INR 22.5 ...

US Justice Department clears Microsoft, Nokia deal

Published 03 Dec 2013 11:06 CET | World
Microsoft said that the US Justice Department has unconditionally approved its USD 7.2 billion takeover of Nokia's mobile handset ...

Nokia asks Indian court to help release factory

Published 22 Nov 2013 09:03 CET | India
Nokia wants to resolve its tax dispute with the Indian government ahead of the sale of its mobile operations to Microsoft, ...





Calendar   /   Industry Events

27 Jan Uptime
28 Jan Samsung Electronics Q4 2020
28 Jan Crown Castle Q4 2020
28 Jan Skyworks fiscal Q1
28 Jan Rogers Communications Q4 2020
28 Jan Juniper Networks Q4 2020
28 Jan Comcast Q4 2020
28 Jan 8x8 fiscal Q3
29 Jan Airtel Africa Q4 2020
29 Jan Charter Communications Q4 2020
29 Jan Ericsson Q4 2020
29 Jan Telia Q4 2020
29 Jan NEC fiscal Q3
01 Feb Cirrus Logic Q3
01 Feb On Semiconductor Q4
01 Feb NXP Semiconductors Q4 2020
01 Feb Harmonic Q4 2020
02 Feb Lumentum fiscal Q2
02 Feb Amazon.com Q4 2020
02 Feb Alphabet Q4 2020
02 Feb Viavi fiscal Q2
02 Feb FireEye Q4 2020
02 Feb Telenor Q4 2020
02 Feb Vodacom fiscal Q3
02 Feb Tele2 Q4 2020
03 Feb Aviat Networks fiscal Q2
03 Feb Turk Telekom Q4 results
03 Feb Qualcomm fiscal Q1
03 Feb Netgear Q4 2020
03 Feb Adtran Q4
::: More Calendar Items