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Nokia Says It’s Disappointed With Indian Court Ruling That Rejected Asset Transfer To Microsoft

14 Mar
Nokia Says It’s Disappointed With Indian Court Ruling That Rejected Asset Transfer To Microsoft

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TechCrunch

Nokia’s transfer of its Indian manufacturing unit and other assets in the country to Microsoft is facing a legal hurdle that could force the Finnish phone maker to take some extreme steps including potential shutdown of the plant.

If the Indian manufacturing plant is not transferred to Microsoft, it could mean less money for Nokia from the Microsoft deal.

After India’s Supreme Court on Friday upheld an earlier ruling asking Nokia to give financial guarantee before transferring any local assets to Microsoft, the mobile phone maker said it’s disappointed and will consider “the next steps.”

“Today, India’s Supreme Court declined to hear an appeal by Nokia on how its assets could be unfrozen and transferred to Microsoft. The decision means that the case now reverts to the February 5 Delhi High Court ruling on the asset transfer,” Nokia said in a statement.

“Nokia is disappointed by today’s decision. The company strongly…

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Posted by on 03/14/2014 in personal

 

sema chochote

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