STOCKHOLM (Reuters) The Finnish telecommunications company Nokia says it cooperates fully with the Indian authorities to resolve allegations of tax evasion.
It writes Bloomberg.
Nokia pointing out that it followed all Indian laws and pay all taxes in accordance with applicable law. The Company wishes to clarify the matter quickly and fairly with the support of the Indian government
Yeah, $2.5 BILLION bill due in 60 days. That's a new development and its all over the place in BOLD letters. Why are so many people on this board not getting what's going on here?
It's $2.5 Billion. The number 1 reason Nokia went so low was the risk of insolvency. BK. with such a huge drain on cash that issue can be brought up again and we may see downgrades. And the reason is that many analysts aren't convinced that Nokia has turned the corner. They think the profit and cash flow in Q4 was a fluke and they can't do it again in Q1 or Q2, so this huge penalty has the potential to hold us down for at least 2 months. I don't think it will but it can.