China gives regulatory approval in Nokia acquisition
April 11 , 2014
Another hurdle was cleared after Nokia sold its devices unit to Microsoft. The smartphone maker announced that it received a regulatory approval from China and the deal is expected to close this month.
Microsoft's deal to acquire the devices division of Nokia was supposed to close last month but ended up being pushed back a while in order to secure more approvals in Asia.
Nokia continues to contest issues in India, where the company is being asked to pay taxes on devices made at a plant in the nation.