Nokia offers 270 mln euros to unfreeze India assets

Reuters

HELSINKI, Dec 9 (Reuters) - Nokia has offered topay 270 million euros ($369 million) to Indian authorities tounfreeze assets in a tax dispute, according to sources familiarwith the matter.

Nokia's offer would come on top of an earlier payment ofaround 85 million euros. The Finnish company has been indisagreement with Indian authorities over an income tax bill of20.8 billion rupees ($337.48 million), one of several taxdisagreements involving foreign companies in India.

Nokia has been trying to unfreeze its Indian assets,including a Chennai factory, ahead of the sale of its mobilephone business to Microsoft.

Nokia declined to comment beyond saying it was committed togetting its Indian assets unfrozen and "once again calls on theIndian government and tax authority to work with urgency towardsa solution before the Dec. 12 deadline".

The Delhi High Court will hear the case on Dec. 10.

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