Nokia won't sell its devices and services business to Microsoft by the first-quarter deadline the companies set last year, saying Sunday night that regulatory hurdles delayed the deal's closing until April.
"Nokia and Microsoft remain committed to the transaction," and the companies "continue to be confident that the transaction will close," Nokia said in a statement. The problem is that not all antitrust authorities around the world have given their approval.
"Nokia and Microsoft have already received most of the required regulatory approvals, including approvals from the European Commission and the U.S. Department of Justice. Furthermore, Nokia and Microsoft continue to make good progress related to the closing conditions and integration planning," Nokia said. "However, the transaction is pending approvals from certain antitrust authorities in Asia which are still conducting their reviews." In September,and license some patents. in a mutual bid for relevance in a market dominated by Apple's iOS and Google's Android.