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$7.2 billion Nokia-Microsoft buyout deal to end in April

Tuesday, 25 March 2014 - 4:04pm IST | Agency: ANI

Nokia and Microsoft have reportedly announced that their buyout deal is expected to now end in April, instead of this March-end as speculated before.

The Finnish smartphone manufacturer is now expected to complete the sale of its devices and services divisions to Microsoft in the deal priced at 7.2 billion dollars.

According to The Verge, Nokia said that it was still waiting on regulatory approval from antitrust authorities in Asia.

Once the deal is completed, Microsoft would use its new acquisition to design its own smartphones, rather than relying on Nokia to produce its flagship Windows Phone handsets as a third party, the report added.

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