Nokia on Delhi High Court's decision

NEW DELHI, INDIA: Nokia connented on the Delhi High Court decision. Poonam Kaul, director-Communications, Nokia IMEA, said:

"Nokia acknowledges the decision by the Delhi High Court to release Nokia's Indian assets, including its Chennai facility, for the planned transfer to Microsoft.

"Our current understanding is that this decision allows for the transfer of the assets. However, Nokia has been asked to meet a number of conditions in the ruling, and still needs to provide the authorities with additional documentation. Nokia expects these conditions to be in line with international treaties and practices.

"The company will now start to prepare for the planned transfer of the assets, but notes that there are still a number of statutory clearances that remain before the assets can transfer. Nokia repeats its call for the Indian government to work with urgency to facilitate the other approvals needed for the transfer and secure employment for the tens of thousands of employees involved.

"Nokia continues to expect the transaction with Microsoft to close in the first quarter of 2014. Nokia will not comment further on the matter."