China’s top commerce watchdog is taking a more prudent approach than usual to granting approval for US software giant Microsoft Corp’s takeover of mobile telephone business from Finland-based Nokia, Beijing-based newspaper The Economic Observer reported on 21 December 2013.
Such acquisitions usually get approval from China’s Ministry of Commerce after a 30-day first-phase investigation.
But currently, the deal has not been approved yet and is undergoing a second-phase anti-trust investigation, though regulators from some other countries and regions including the US have given the nod already, the report said, citing unnamed sources familiar with the matter.
The sources attributed the ministry’s careful moves mainly to requests from domestic mobile phone manufacturers, including ZTE, Lenovo and Xiaomi, who fear that upon the completion of the transaction, Nokia will charge them high patent fees for the usage of valuable technology on handsets.
Read more: Global Times