Nokia offers 270 million euros to unfreeze India assets

Nokia has offered to pay 270 million euros ($369 million) to Indian authorities to unfreeze assets in a tax dispute, according to sources familiar with the matter. Nokia's offer would come on top of an earlier payment of around 85 million euros. The Finnish company has been in disagreement with Indian authorities over an income tax bill of 20.8 billion rupees ($337.48 million), one of several tax disagreements involving foreign companies in India. Nokia has been trying to unfreeze its Indian assets, including a Chennai factory, ahead of the sale of its mobile phone business to Microsoft.

via Tech News Headlines - Yahoo! News http://news.yahoo.com/nokia-offers-270-million-euros-unfreeze-india-assets-130745889--finance.html