Nokia’s manufacturing plant in Chennai, India will probably be taken out of the deal with Microsoft

Nokia is running out of time to deal with its tax problems in India, as there appears to be no progress toward resolving the age old issue of money.



The Indian government has been placing condition upon condition in order to give the go-ahead for Nokia to transfer its facility to Microsoft, first paying ₹7 billion ($116 million) to free up the Chennai plant from government seizure.



The government has since demanded hundreds of millions of dollars to be held in escrow accounts as guarantees against future taxes that might be owed. The local government has levied its own tax bill on ...



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