Despite releasing the local assets back to Nokia Oyj, the Delhi High Court clarified that the Finnish company will still be liable to any remaining tax bills from the local mobile phone plant that Microsoft will be acquiring.
Finland
Finland food group HKScan exits stake in Swedish meat firm
Finland-based food group HKScan has inked an agreement to divest its 49% stake in Switzerland-based meat company Nyhlens & Hugosons Chark for €2.2 million ($3 million) in cash.
Finland may double its debt levels if no spending reforms done - central bank
The central bank of Finland has expressed its worry about the possibility of the country's debt ballooning should no monetary reforms to curb spending take place, according to a Bloomberg report.
Growth of mobile computing spurs fresh tech startups globally-report
The rising use of mobile computing has prompted the development of fresh technology startups around the world as international entrepreneurs hope to get a share of the markets for tablets and smartphones, the Financial Times reported.
Chinese mobile makers asks regulators to ensure Nokia takeover will retain patent fees - sources
Huawei Technologies Co and ZTE Corp have asked regulators to make sure that Microsoft's takeover of Nokia's handset business will not result to increased patent fees in wireless technology, according to sources who talked to Bloomberg.
Latest News
The largest utility firm in Finland, Fortum Oyj, would be exiting from its power distribution business in Finland to Suomi Power Networks, Bloomberg said in its report.
Sources noted that Nokia Oyj is in danger of finding a new buyer for its mobile handset business if it failed to lift the freeze on its Indian assets to be able to transfer them to Microsoft as part of its acquisition agreement.
Venture capital firm Northzone had set up its biggest fund yet at EUR200 million or USD272 million. The fund will be geared towards making investments in startups within the Nordic region and businesses who had partnered with a Nordic-influenced startup.
The Federal Trade Commission in a statement said the US government approved Microsoft Corp.'s acquisition of Nokia's mobile phone business on November 29. The European Union is set to decide on the matter on December 4.
Finnish stainless steel maker Outokumpu said it planned to raise 650 million euros ($885 million) through a rights issue and divest assets back to ThyssenKrupp as it looks shore up its finances.
According to a research study by Dow Jones & Company, Ireland attracted the most venture capital funding per capita in the European region. The data showed that most Irish tech startups have fared well even during the economic recession.
Microsoft Corp. is set to secure a European Union (EU) approval for its proposed USD7.3 billion takeover of Nokia's mobile phone business. Regulators from various countries had already given the green light to the deal.
The government of Finland would be opening a junk bond market to attract investors who are interested to gain higher yields in the best-rated nation in the Euro Zone.
Nokia shareholders were expected to approve the sale of its beleaguered handset business to Microsoft Corp. for EUR5.44 billion. The takeover would boost Nokia's cash position to EUR8 billion.
