Reginal Thomas
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Nokia Offering India $355 Billion To Transfer Assets to Microsoft

Nokia is preparing to pay 355 million euros to tax authorities in India to enable the transfer of a factory in the country to Microsoft Corp. Nokia is will to pay such a hefty amount so that India's government will allow the transfer of assets between to the two firms including the manufacturing plant in Chennai. The assets were frozen by the Indian government in September over a tax dispute. In the same month Nokia sold its mobile phone business in Microsoft for 5.44 billion euros.