Indian authorities freeze Nokia assets

(MENAFN) The Indian government decided to freeze some of Nokias assets over a USD321 million tax dispute, Time of Oman reported. The tax authorities decided to freeze bank accounts and fixed assets forcing the company to go to the High Court which released some of them. A statement released by Nokia said, "We are now working closely with the tax authorities to ensure that the parties will find a comprehensive solution to the remaining open issues, and discussions have been constructive." The Finnish telecom giant believes that this asset freeze will not affect its USD7.2 billion deal with Microsoft to acquire Nokias handset section.