Nokia's Indian tax bill could reach $3.4B

|About: Nokia Corporation (NOK)|By:, SA News Editor

Nokia's (NOK) tax bill in India could hit $3.4B, a government official says, far higher than the $340M that has been at the center of a dispute so far.

India has frozen Nokia assets in the country to ensure the company has enough money to pay the smaller bill, although the firm has gone to court to defend itself.

Nokia needs access to the assets by Thursday so that it can complete the sale of its handset unit to Microsoft (MSFT), and it has set aside $350M for the purpose.