Microsoft purchase of Nokia delayed

Tax dispute with Indian government means deal will complete early in second quarter

Microsoft’s anticipated purchase of Nokia has been delayed as the deal is still awaiting approval by Asian regulators.

The €5.4 billion (£4.5 billion) deal was expected to be completed in the first quarter of the year but it is believed it will now go through in April, subject to approval from “certain anti-trust authorities in Asia.”

The Finnish company recently announced it was contesting a legal case in India over an export tax local authorities wanted it to pay on devices manufactured at its plant in Chennai.

Nokia announced today it would be delaying publication of its 2013 financial results so it could reflect its sale Microsoft in them.