China approves Microsoft-Nokia deal

NEW DELHI, INDIA: The Microsoft-Nokia deal has been approved by the Chinese government, which means a major hurdle for the deal has been cleared. Previously, the deal was supposed to close by the end of March, but that did not happen and both companies stated that the deal would close by the end of April.

The biggest hurdle for the deal comes from the Indian government which has frozen Nokia's assets in the country, which includes a manufacturing facility in Chennai. The Indian government has taxes claims against Nokia, which the Finnish company is contesting.

While both the companies reiterate that the deal will be closed by the end of April, a WSJ report claims that the delay could take as long as 6 months to complete. The deal involves Microsoft acquiring Nokia's devices division which will also involve current Nokia VP and former CEO, Stephen Elop return to Microsoft as EVP for a soon to be formed Microsoft devices.