LONDON — Indian tax authorities froze Nokia’s assets there last week in a dispute over tax payments, but the Finnish cellphone company gained access to its Indian bank accounts, Nokia said Monday.
The authorities’ move follows the announcement in early September that Microsoft had agreed to buy Nokia’s struggling cellphone unit for around $7.2 billion.
Nokia said the Indian tax authorities froze all of Nokia’s local assets, including its bank accounts and manufacturing facilities, last Wednesday to ensure that the European company could pay its future tax bill, estimated to be hundreds of millions of dollars.
Nokia successfully challenged the ruling to gain access to its Indian bank accounts, but the firm’s local manufacturing plants and other buildings remain frozen and cannot be transferred to a new owner. Full story for BostonGlobe.com subscribers.