The Indian handset manufacturer, Lava International is in talks to acquire Nokia?s handset manufacturing facility in Chennai. As per the industry reports, the manufacturing team at Lava has assessed the facility and are working on a proposal to be submitted to Nokia for the acquisition. The two companies are also reported to have signed a non-disclosure agreement.
The facility is currently non-operational owing to the tax dispute between Nokia and the Indian government, which prevented the Finland-based company from transferring the factory and its related assets to Microsoft as part of the $7.2 billion acquisition deal to sell the former?s devices business.
Meanwhile, Nokia has reportedly communicated to Lava that it has initiated the discussions with the concerned government authorities related to the ongoing tax and lease-related issues. However, the final deal on the transfer of the facility to Lava will be done only after the tax dispute is resolved.
