Finnish telecoms group Nokia said that the
sale of its mobile phone business to Microsoft
, first mooted last autumn, is set for completion on 25 April.
The €5.4bn deal was originally scheduled to go through by the end of last month, but was delayed in the absence of regulatory clearances from several Asian countries.
However the transaction secured approval from Chinese regulators earlier this month, removing one of the key final obstacles. The deal is “now subject only to certain customary closing conditions,” Nokia said in a news release,
According to reports, Nokia and Microsoft are still awaiting approval from the South Korean regulator although this is not regarded as essential for closing the transaction.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
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Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.