Back in July 2010, Nokia announced plans to acquire most of Motorola's wireless network infrastructure assets for $1.2 billion, a move that would make Nokia second only to Ericsson. That deal was supposed to close by the end of 2010 but was delayed until the first quarter of 2011. Now Nokia is saying the deal is again on hold, only this time the company has no idea when it's expected to close.
"Nokia Siemens Networks remains committed to the acquisition but will provide no further guidance on when it is likely to be completed," Nokia announced in a curt update on its website.
As Nokia explains it, the holdup has to do with anti-trust approval from the Chinese regulatory authorities. As it stands, the deal is now in "phase three of the review process with the Anti-Monopoly Bureau of the Ministry of Commerce in China (MOFCOM)."
While that deal drags on, Nokia is involved in another transaction that will net the company $1 billion. That's the amount Bloomberg says Microsoft has committed to paying the Finnish company to promote and develop Windows Phone 7 devices.