Nokia has offered to pay a 270 million euro ($369 million) deposit to Indian authorities to unfreeze assets in a tax dispute, according to sources familiar with the matter. The Finnish firm has been trying to free up the assets, particularly its Chennai factory which is one of its biggest phone-making plants, ahead of the sale of its mobile phone business to Microsoft. The offer comes on top of an earlier agreement to pay around 85 million euros, although Nokia hopes to eventually retrieve the payments if the tax dispute is resolved in its favor, one of the sources said on Monday. While Nokia has said it does not expect the dispute to affect its 5.4 billion euros deal with Microsoft, which is expected to close in the first quarter of 2014, a lengthy asset freeze could complicate matters by preventing the transfer of ownership in the Chennai plant.
via Tech News Headlines - Yahoo! News http://news.yahoo.com/nokia-offers-270-million-euros-unfreeze-india-assets-130745889--finance.html
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