Deal is now expected to close in April
Microsoft and Nokia are both anxious to finalize a $7.2 billion transaction in which the former will become the new owner of substantially all of the latter's Devices and Services business, but not all regulatory authorities around the world are quite as excited. Specifically, certain antitrust authorities in Asia are still conducting a review and it's now expected the deal will become finalized in April.
Despite the temporary snag, Microsoft and Nokia reiterated that they're both committed to seeing the transaction through. They're also confident that there won't be any other issues that could delay or otherwise block the sale of Nokia's phone business to Microsoft.
"Nokia and Microsoft have already received most of the required regulatory approvals, including approvals from the European Commission and the U.S. Department of Justice," Nokia and Microsoft said in a statement. "Furthermore, Nokia and Microsoft continue to make good progress related to the closing conditions and integration planning. However, the transaction is pending approvals from certain antitrust authorities in Asia which are still conducting their reviews."
Microsoft in September of last year announced plans to acquire Nokia's phone division. The $7.2 billion dollar deal also includes the licensing of some of Nokia's patents. Prior to the deal, Nokia has been Microsoft's biggest supporter in the Windows Phone space.
Image Credit: Flickr (Vernon Chan)