In the wake of the Delhi High Court order, Nokia said it would now start preparing for the planned transfer of the assets of the Chennai plant 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,’’ a late evening release from Nokia said. “There are still a number of statutory clearances that remain before the assets can transfer,’’ it added.
Nevertheless, Nokia yet again urged the Central 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, in the meanwhile, expressed the optimism that the transaction with Microsoft would close in the first quarter of 2014.
