- Reuters reports Nokia (NOK +3%) has offered to pay the Indian government €270M ($369M) to unfreeze assets (including a Chennai plant) caught up in a tax dispute.
- Nokia threatened to pull out of India earlier this year due to frustration over its tax squabble. The government made a settlement offer in July.
- Meanwhile, EU antitrust chief Joaquin Almunia is warning Nokia not to misuse its giant patent portfolio in the wake of the Microsoft deal. A number of analysts and investors have argued the deal opens the door for Nokia to become more aggressive in monetizing its IP.
- Almunia: "If Nokia were to take illegal advantage of its patents in the future, we will open an antitrust case - but I sincerely hope we will not have to." The EU has already taken a harsh view of the use of standards-essential mobile patents (some, though not all, of Nokia's patents fall under this label) in legal disputes.
Nokia reportedly makes Indian tax offer; EU issues patent warning
Dec 9 2013, 10:42 ET