Nokia Oyj is ready to pay at least 355 million euros ($487 million) to India’s tax authorities to enable the transfer of a factory in the country to Microsoft Corp., according to two people familiar with the matter.
Tim Participacoes SA, the Brazilian telecommunications carrier providing the best return this year, can thrive on its own and fight growing pressure to sell the company, said Chief Executive Officer Rodrigo Abreu.
Nokia Oyj investors cleared the sale of its mobile-phone unit to Microsoft Corp. in a 5.44 billion- euro ($7.4 billion) deal, unshackling the Finnish company from the unprofitable division and letting it focus on networks.
Microsoft Corp. will take over Nokia Oyj’s glass-walled headquarters, one of Finland’s best-known buildings, once the software giant’s deal to buy the Finnish company’s mobile-phone business is completed.
Cisco Systems Inc. Chief Executive Officer John Chambers told shareholders at an annual meeting that the network-equipment maker will “emerge stronger than ever” from a sales slump by investing in developing markets.
The Standard & Poor’s 500 Index capped its first three-day slump since September and Treasuries slid as the Federal Reserve indicated it may reduce monetary stimulus in coming months as the U.S. economy improves. Gold and silver extended losses while the dollar strengthened.